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 3,803 MBBL last week to 408,740 MBBL from 404,937 MBBL. This is 15% below the 481,888 MBBL that was in storage at this point last year, and is 1% below the five-year average. This week’s build exceeded expectations, as the average analyst prediction called for a draw of 2,262 MBBL.
Gasoline inventories dropped by 2.5 MMBBL this week to 231.0 MMBBL. Fuel oil inventories rose by 3.0 MMBBL to 124.2 MMBBL. Overall, petroleum stocks excluding the SPR increased by 10.6 MMBBL to 1,206.6 MMBBL.
Preliminary data suggests over the past four weeks the U.S. produced 10,950 MBOPD, imported 8,004 MBOPD and exported 1,870 MBOPD.
The four-week average total crude oil inputs to refineries decreased to 17,414 MBOPD, from 17,457 MBOPD. This means refineries are running at 95.2% of capacity. American refineries produced an average of 10,432 MBBLPD of gasoline and 5,233 MBBLPD of distillate fuel oil over the past four weeks.
