UPDATE: Crude Inventory +2.43M Barrels vs +1.62M Expected

November 9, 2016 10:30 AM EST

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(Updated - November 9, 2016 10:32 AM EST)

Crude Inventory +2.43M Barrels vs +1.62M Expected

  • Cushing 28K vs 259K
  • Gasoline -2.84M vs -1.17M
  • Distillate -1.95M vs 2M

U.S. crude oil refinery inputs averaged over 15.8 million barrels per day during the week ending November 4, 2016, 369,000 barrels per day more than the previous week’s average. Refineries operated at 87.1% of their operable capacity last week. Gasoline production increased slightly last week, averaging about 10.5 million barrels per day. Distillate fuel production increased last week, averaging 4.8 million barrels per day.

U.S. crude oil imports averaged over 7.4 million barrels per day last week, down by about 1.6 million barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.6 million barrels per day, 5.3% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 500,000 barrels per day. Distillate fuel imports averaged 107,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.4 million barrels from the previous week. At 485.0 million barrels, U.S. crude oil inventories are near the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 2.8 million barrels last week, but are well above the upper limit of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 1.9 million barrels last week but are well above the upper limit of the average range for this time of year. Propane/propylene inventories fell 1.3 million barrels last week but are near the upper limit of the average range. Total commercial petroleum inventories decreased by 7.0 million barrels last week.

Total products supplied over the last four-week period averaged about 20.1 million barrels per day, up by 1.5% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9.1 million barrels per day, down by 2.1% from the same period last year. Distillate fuel product supplied averaged above 4.0 million barrels per day over the last four weeks, up by 1.0% from the same period last year. Jet fuel product supplied is up 5.1% compared to the same four-week period last year.



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