Weekly Crude Oil Storage as of January 19, 2024
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 9.2 million barrels from the previous week. At 420.7 million barrels, U.S. crude oil inventories are 5% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as of January 19, 2024.
Summary of weekly petroleum data for the week ending January 19, 2024
U.S. crude oil refinery inputs averaged 15.3 million barrels per day during the week ending January 19, 2024, which was 1.4 million barrels per day less than the previous week’s average. Refineries operated at 85.5% of their operable capacity last week.
- Gasoline production decreased last week, averaging 8.3 million barrels per day.
- Distillate fuel production decreased last week, averaging 4.5 million barrels per day.
Imports
U.S. crude oil imports averaged 5.6 million barrels per day last week, decreased by 1.8 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 5.3% more than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 628 thousand barrels per day, and distillate fuel imports averaged 201 thousand barrels per day.
Products inventories
- Total motor gasoline inventories increased by 4.9 million barrels from last week and are about 1% above the five year average for this time of year.
- Finished gasoline inventories decreased while blending components inventories increased last week.
- Distillate fuel inventories decreased by 1.4 million barrels last week and are about 4% below the five year average for this time of year.
- Propane/propylene inventories decreased by 8.4 million barrels from last week and are 4% above the five year average for this time of year.
- Total commercial petroleum inventories decreased by 22.3 million barrels last week.
Products supplied
Total products supplied over the last four-week period averaged 19.5 million barrels per day, up by 3.3% from the same period last year. Over the past four weeks:
- Motor gasoline product supplied averaged 8.1 million barrels per day, up by 3.7% from the same period last year.
- Distillate fuel product supplied averaged 3.4 million barrels per day over the past four weeks, down by 6.9% from the same period last year.
- Jet fuel product supplied was up 1.6% compared with the same four-week period last year.
