Close

Weekly Crude Inventory Declines 2.56M Barrels, Says EIA

December 14, 2016 10:30 AM EST

(Updated - December 14, 2016 10:33 AM EST)

  • Crude Inventory -2.56M Barrels vs -1.35M Expected
  • Cushing +1.22M vs +1.03M
  • Gasoline +497K vs +1.9M
  • Distillate -762K vs +988K

U.S. crude oil refinery inputs averaged 16.5 million barrels per day during the week ending December 9, 2016, 57,000 barrels per day more than the previous week’s average. Refineries operated at 90.5% of their operable capacity last week. Gasoline production decreased last week, averaging over 9.8 million barrels per day. Distillate fuel production decreased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged about 7.4 million barrels per day last week, down by 943,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.7 million barrels per day, 2.0% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 624,000 barrels per day. Distillate fuel imports averaged 233,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.6 million barrels from the previous week. At 483.2 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 increased by 0.5 million barrels last week, and are well above the upper limit of the average range. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 0.8 million barrels last week but are above the upper limit of the average range for this time of year. Propane/propylene inventories fell 3.6 million barrels last week but are near the upper limit of the average range. Total commercial petroleum inventories decreased by 2.0 million barrels last week.

Total products supplied over the last four-week period averaged over 19.4 million barrels per day, down by 2.5% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged over 8.9 million barrels per day, down by 3.0% 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 11.0% from the same period last year. Jet fuel product supplied is up 3.4% compared to the same four-week period last year.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Commodities, ETFs, Economic Data

Related Entities

Crude Oil