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 5,836 MBBL last week to 411,084 MBBL from 405,248 MBBL. This is 16% below the 490,623 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 3,456 MBBL.
Preliminary data suggests over the past four weeks the U.S. produced 10,925 MBOPD, imported 8,477 MBOPD and exported 2,206 MBOPD.
The four-week average total crude oil inputs to refineries decreased to 17,590 MBOPD, from 17,706 MBOPD. This means refineries are running at 96.4% of capacity. American refineries produced an average of 10,361 MBBLPD of gasoline and 5,369 MBBLPD of distillate fuel oil over the past four weeks.
