Crude Inventory Data Build of 2.3 Million Barrels Last Week

(Updated - October 6, 2021 10:32 AM EDT)

• Crude Inventory +2.35M Barrels vs 796K Expected
• Cushing +1.55M
• Gasoline +3.26M vs -69K Expected
• Distillate -396K vs 844K Expected

Summary of Weekly Petroleum Data for the week ending October 1, 2021

U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending October 1, 2021 which was 330,000 barrels per day more than the previous week’s average. Refineries operated at 89.6% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production increased last week, averaging 4.8 million barrels per day.

U.S. crude oil imports averaged 7.0 million barrels per day last week, up by 483,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 22.7% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.1 million barrels per day, and distillate fuel imports averaged 298,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.3 million barrels from the previous week. At 420.9 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year. Total motor gasoline inventories increased by 3.3 million barrels last week and are about 1% below the five year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 0.4 million barrels last week and are about 11% below the five year average for this time of year. Propane/propylene inventories decreased by 0.6 million barrels last week and are about 20% below the five year average for this time of year. Total commercial petroleum inventories increased by 0.8 million barrels last week.

Total products supplied over the last four-week period averaged 20.7 million barrels a day, up by 16.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.2 million barrels a day, up by 6.4% from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels a day over the past four weeks, up by 15.9% from the same period last year. Jet fuel product supplied was up 64.1% compared with the same fourweek period last year.

You May Also Be Interested In

• Trump: everybody is fully aware that Iran will agree to have major weapons inspections in order to ensure "nuclear honesty" long into future
• Canada’s CPI jumps to 3.2% in May, topping 3% forecast
• JPMorgan Starts Multi Commodity Exchange of India Ltd (MCX:IN) at Underweight