Crude Inventory Declined 7.4 Million Barrels Last Week, Says EIA

June 16, 2021 10:30 AM EDT

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(Updated - June 16, 2021 10:33 AM EDT)

  • Crude Inventory -7.36M Barrels vs -2.7M Expected
  • Cushing -2.15M
  • Gasoline 1.96M vs 14K Expected
  • Distillate -1.02M vs 843K Expected

Summary of Weekly Petroleum Data for the week ending June 11, 2021

U.S. crude oil refinery inputs averaged 16.3 million barrels per day during the week ending June 11, 2021 which was 412,000 barrels per day more than the previous week’s average. Refineries operated at 92.6% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased last week, averaging 5.1 million barrels per day.

U.S. crude oil imports averaged 6.7 million barrels per day last week, up by 108,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 5.9% less 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 371,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.4 million barrels from the previous week. At 466.7 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. Total motor gasoline inventories increased by 2.0 million barrels last week and are about 0% above 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 1.0 million barrels last week and are about 6% below the five year average for this time of year. Propane/propylene inventories increased by 1.5 million barrels last week and are about 13% below the five year average for this time of year. Total commercial petroleum inventories decreased by 4.6 million barrels last week.

Total products supplied over the last four-week period averaged 19.3 million barrels a day, up by 17.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.1 million barrels a day, up by 19.3% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, up by 24.8% from the same period last year. Jet fuel product supplied was up 86.8% compared with the same fourweek period last year.



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