UPDATE: EIA Data Shows 4.2M Build in Crude Inventory

(Updated - November 12, 2015 11:03 AM EST)

• Crude Inventory 4.22M Barrels vs 790K Expected
• Gasoline Inventory -2.1M vs -959K Expected

U.S. crude oil refinery inputs averaged over 15.9 million barrels per day during the week ending November 6, 2015, 302,000 barrels per day more than the previous week’s average. Refineries operated at 89.5% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production decreased slightly last week, averaging about 4.9 million barrels per day.

U.S. crude oil imports averaged 7.4 million barrels per day last week, up by 434,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.2 million barrels per day, 2.5% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 353,000 barrels per day. Distillate fuel imports averaged 136,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.2 million barrels from the previous week. At 487.0 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years. Total motor gasoline inventories decreased by 2.1 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 increased by 0.4 million barrels last week and are in the middle of the average range for this time of year. Propane/propylene inventories rose 1.6 million barrels last week and are well above the upper limit of the average range. Total commercial petroleum inventories increased by 2.6 million barrels last week.

Total products supplied over the last four-week period averaged about 19.8 million barrels per day, up by 1.2% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 9.3 million barrels per day, up by 3.4% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels per day over the last four weeks, up by 8.3% from the same period last year. Jet fuel product supplied is up 4.0% compared to the same four-week period last year.

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