Crude Inventory Declined 7.6 Million Barrels Last Week, Says EIA
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(Updated - June 23, 2021 10:32 AM EDT)
- Crude Inventory -7.6M Barrels vs -4.1M Expected
- Cushing -1.8M
- Gasoline -2.9M vs +1.3M Expected
- Distillate +1.75M vs +248K Expected
Summary of Weekly Petroleum Data for the week ending June 18, 2021
U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending June 18, 2021 which was 224,000 barrels per day less than the previous week’s average. Refineries operated at 92.2% of their operable capacity last week. Gasoline production increased last week, averaging 10.3 million barrels per day. Distillate fuel production increased last week, averaging 5.1 million barrels per day.
U.S. crude oil imports averaged 6.9 million barrels per day last week, up by 197,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 1.0% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 840,000 barrels per day, and distillate fuel imports averaged 276,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.6 million barrels from the previous week. At 459.1 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 2.9 million barrels last week and are about 1% below the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 1.8 million barrels last week and are about 4% below the five year average for this time of year. Propane/propylene inventories increased by 1.0 million barrels last week and are about 15% below the five year average for this time of year. Total commercial petroleum inventories decreased by 5.8 million barrels last week.
Total products supplied over the last four-week period averaged 19.5 million barrels a day, up by 14.5% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.1 million barrels a day, up by 14.1% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 18.9% from the same period last year. Jet fuel product supplied was up 97.5% compared with the same fourweek period last year.
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