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 1,852 MBBL last week to 395,989 MBBL from 394,137 MBBL. This is 16% below the 470,986 MBBL that was in storage at this point last year, and is 2% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 1,126 MBBL.
Gasoline inventories increased by 1.5 MMBBL this week to 235.7 MMBBL. Fuel oil inventories fell by 2.2 MMBBL to 137.9 MMBBL. Overall, petroleum stocks excluding the SPR increased by 4.5 MMBBL to 1,240.8 MMBBL.
Preliminary data suggests over the past four weeks the U.S. produced 11,000 MBOPD, imported 7,783 MBOPD and exported 2,086 MBOPD.
The four-week average total crude oil inputs to refineries are 17,358 MBOPD. This means refineries are running at 95.0% of capacity. American refineries produced an average of 10,175 MBBLPD of gasoline and 5,357 MBBLPD of distillate fuel oil over the past four weeks.
