Weekly Crude Oil Storage as of May 31, 2024
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.2 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are 4% 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 May 31, 2024.
Summary of weekly petroleum data for the week ending May 31, 2024
U.S. crude oil refinery inputs averaged 17.1 million barrels per day during the week ending May 31, 2024, which was 61 thousand barrels per day more than the previous week’s average. Refineries operated at 95.4% of their operable capacity last week.
- Gasoline production decreased last week, averaging 9.5 million barrels per day.
- Distillate fuel production increased last week, averaging 5.1million barrels per day.
Imports
U.S. crude oil imports averaged 7.1 million barrels per day last week, increased by 289 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.8 million barrels per day, 3.5% more than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 699 million barrels per day, and distillate fuel imports averaged 142 thousand barrels per day.
Products inventories
- Total motor gasoline inventories increased by 2.1 million barrels from last week and are about 1% below the five year average for this time of year.
- Finished gasoline inventories decreased while blending components inventories increased last week.
- Distillate fuel inventories increased by 3.2 million barrels last week and are about 7% below the five year average for this time of year.
- Propane/propylene inventories increased by 2.5 million barrels from last week and are 14% above the five year average for this time of year.
- Total commercial petroleum inventories increased by 13.5 million barrels last week.
Products supplied
Total products supplied over the last four-week period averaged 20.0 million barrels per day, up by 1.3% from the same period last year. Over the past four weeks:
- Motor gasoline product supplied averaged 9.1 million barrels per day, down by 1.0% from the same period last year.
- Distillate fuel product supplied averaged 3.7 million barrels per day over the past four weeks, down by 3.4% from the same period last year.
- Jet fuel product supplied was up 13% compared with the same four-week period last year.
