UPDATE: Crude Inventory -553K Barrels vs +1.2M Expected

October 26, 2016 10:30 AM EDT

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(Updated - October 26, 2016 10:32 AM EDT)

Crude Inventory -553K Barrels vs +1.2M Expected

  • Cushing -1.3M vs -163K Expected
  • Gasoline -1.96M vs -550K Expected
  • Distillate -3.4M vs -1.3M Expected

U.S. crude oil refinery inputs averaged about 15.6 million barrels per day during the week ending October 21, 2016, 182,000 barrels per day more than the previous week’s average. Refineries operated at 85.6% of their operable capacity last week. Gasoline production increased last week, averaging over 9.8 million barrels per day. Distillate fuel production decreased last week, averaging over 4.5 million barrels per day.

U.S. crude oil imports averaged over 7.0 million barrels per day last week, up by 109,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 7.4 million barrels per day, 2.1% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 834,000 barrels per day. Distillate fuel imports averaged 74,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.6 million barrels from the previous week. At 468.2 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 2.0 million barrels last week, but are well above the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.4 million barrels last week but are above the upper limit of the average range for this time of year. Propane/propylene inventories fell 2.1 million barrels last week but are near the upper limit of the average range. Total commercial petroleum inventories decreased by 8.7 million barrels last week.

Total products supplied over the last four-week period averaged about 20.4 million barrels per day, up by 4.3% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged over 9.1 million barrels per day, down by 0.1% from the same period last year. Distillate fuel product supplied averaged about 4.1 million barrels per day over the last four weeks, up by 2.5% from the same period last year. Jet fuel product supplied is up 6.5% compared to the same four-week period last year.



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