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 fell by 5,731 MBBL last week to 462,216 MBBL, from 462,216 MBBL. This is 3% below the 468,711 MBBL that was in storage at this point last year, and is 18% above the five-year average. This week’s storage draw exceeded expectations, as the average analyst prediction called for a draw of 3,850 MBBL.
Gasoline inventories rose by 0.9 MMBBL this week, growing to 222.3 MMBBL. Fuel oil inventories declined to 134.5 MMBBL, from 134.0 MMBBL last week. Other refined product stocks dropped to 470.8 MMBBL.
The four-week average total crude oil inputs to refineries rose to 15,975 MBOPD, up from 15,908 MBOPD. This means refineries are running at 87.6% of capacity. American refineries produced an average of 9,870 MBBLPD of gasoline and 4,829 MBBLPD of distillate fuel oil over the past four weeks.
