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Weekly Crude Data Shows Surprise 118K Barrel Build

June 28, 2017 10:30 AM EDT

(Updated - June 28, 2017 10:32 AM EDT)

  • Crude Inventory +118K Barrels vs -2.16M Expected
  • Cushing -297K vs -510K
  • Gasoline -894K vs -288K
  • Distillate -223K vs +595K

U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending June 23, 2017, 262,000 barrels per day less than the previous week’s average. Refineries operated at 92.5% of their operable capacity last week. Gasoline production increased last week, averaging over 10.3 million barrels per day. Distillate fuel production decreased last week, averaging over 5.2 million barrels per day.

U.S. crude oil imports averaged over 8.0 million barrels per day last week, up by 140,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 8.1 million barrels per day, 3.0% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 571,000 barrels per day. Distillate fuel imports averaged 139,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.1 million barrels from the previous week. At 509.2 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories decreased by 0.9 million barrels last week, but are above the upper limit of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 0.2 million barrels last week but are above the upper limit of the average range for this time of year. Propane/propylene inventories increased by 3.9 million barrels last week but are in the lower half of the average range. Total commercial petroleum inventories increased by 0.8 million barrels last week.

Total products supplied over the last four-week period averaged 19.9 million barrels per day, down by 2.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9.5 million barrels per day, down by 2.4% from the same period last year. Distillate fuel product supplied averaged over 3.9 million barrels per day over the last four weeks, up by 2.9% from the same period last year. Jet fuel product supplied is up 4.1% compared to the same four-week period last year.



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