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 2,170 MBBL last week to 429,737 MBBL, from 427,567 MBBL. This is 19% below the 528,702 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 1,268 MBBL.
Gasoline inventories rose by 0.8 MMBBL this week, increasing to 236.8 MMBBL. Fuel oil inventories fell to 122.7 MMBBL, from 125.3 MMBBL last week. Overall, petroleum stocks excluding the SPR rose by 1.4 MMBBL to 1,182.4 MMBBL.
Preliminary data suggests over the past four weeks the U.S. produced 10,528 MBOPD, imported 8,237 MBOPD and exported 1,865 MBOPD.
The four-week average total crude oil inputs to refineries dropped to 16,881 MBOPD, up from 16,925 MBOPD. This means refineries are running at 92.4% of capacity. American refineries produced an average of 10,089 MBBLPD of gasoline and 5,086 MBBLPD of distillate fuel oil over the past four weeks.
