The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week.
Crude oil stocks rose by 856 MBBL last week to 457,341 MBBL, from 456,485 MBBL. This is 2% below the 468,158 MBBL that was in storage at this point last year, and is 17% above the five-year average. This week’s storage build was a surprise, as the average analyst prediction called for a draw of 2,783 MBBL.
Gasoline inventories fell by 5.5 MMBBL this week, growing to 216.9 MMBBL. Fuel oil inventories declined to 129.2 MMBBL, from 134.5 MMBBL last week. Other refined product stocks dropped to 468.4 MMBBL.
The four-week average total crude oil inputs to refineries rose to 15,938 MBOPD, up from 15,975 MBOPD. This means refineries are running at 87.4% of capacity. American refineries produced an average of 9,890 MBBLPD of gasoline and 4,868 MBBLPD of distillate fuel oil over the past four weeks.
