Crude Inventory Data Shows Surprise Build of 2.1M Barrels
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(Updated - July 21, 2021 10:32 AM EDT)
- Crude Inventory 2.11M Barrels vs -3.91M Expected
- Cushing -1.35M
- Gasoline -121K vs -1.05M Expected
- Distillate -1.35M vs 1.16M Expected
Summary of Weekly Petroleum Data for the week ending July 16, 2021
U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending July 16, 2021 which was 87,000 barrels per day less than the previous week’s average. Refineries operated at 91.4% of their operable capacity last week. Gasoline production decreased last week, averaging 9.1 million barrels per day. Distillate fuel production decreased last week, averaging 4.9 million barrels per day.
U.S. crude oil imports averaged 7.1 million barrels per day last week, increased by 0.9 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million barrels per day, 2.9% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.4 million barrels per day, and distillate fuel imports averaged 87,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.1 million barrels from the previous week. At 439.7 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year. Total motor gasoline inventories decreased by 0.1 million barrels last week and are at 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 1.3 million barrels last week and are about 4% below the five year average for this time of year. Propane/propylene inventories increased by 3.1 million barrels last week and are about 15% below the five year average for this time of year. Total commercial petroleum inventories increased by 4.4 million barrels last week.
Total products supplied over the last four-week period averaged 20.6 million barrels a day, up by 15.0% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.4 million barrels a day, up by 9.5% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, up by 10.1% from the same period last year. Jet fuel product supplied was up 49.5% compared with the same fourweek period last year.
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