Crude Inventory Data Shows Draw of 3 Million Barrels

(Updated - August 25, 2021 10:31 AM EDT)

• Crude Inventory -2.98M Barrels vs -2.33M Expected
• Cushing +70K
• Gasoline -2.24M vs -1.56M Expected
• Distillate +645K vs -852K Expected

Summary of Weekly Petroleum Data for the week ending August 20, 2021

U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending August 20, 2021 which was 66,000 barrels per day more than the previous week’s average. Refineries operated at 92.4% of their operable capacity last week. Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged 6.2 million barrels per day last week, down by 193,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 8.8% 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 288,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.0 million barrels from the previous week. At 432.6 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year. Total motor gasoline inventories decreased by 2.2 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories increased by 0.6 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories increased by 2.0 million barrels last week and are about 17% below the five year average for this time of year. Total commercial petroleum inventories decreased by 4.8 million barrels last week.

Total products supplied over the last four-week period averaged 21.0 million barrels a day, up by 13.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.5 million barrels a day, up by 8.0% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 6.8% from the same period last year. Jet fuel product supplied was up 45.4% compared with the same fourweek period last year.

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