Crude Inventory Increased by 5.5 Million Barrels Last Week, EIA Data Shows
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(Updated - August 10, 2022 10:32 AM EDT)
- Crude Inventory +5.46M Barrels vs +216K Expected
- Cushing +723K
- Gasoline -4.98M vs -1.15M Expected
- Distillate +2.17 vs -1.05M Expected
Summary of Weekly Petroleum Data for the week ending August 5, 2022
U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending August 5, 2022 which was 728,000 barrels per day more than the previous week’s average. Refineries operated at 94.3% of their operable capacity last week. Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, still averaging 5.1 million barrels per day.
U.S. crude oil imports averaged 6.2 million barrels per day last week, decreased by 1.2 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 0.9% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 595,000 barrels per day, and distillate fuel imports averaged 204,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.5 million barrels from the previous week. At 432.0 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. Total motor gasoline inventories decreased by 5.0 million barrels last week and are about 6% below the five year average for this time of year. Finished gasoline inventories increased, but blending components inventories decreased last week. Distillate fuel inventories increased by 2.2 million barrels last week and are about 24% below the five year average for this time of year. Propane/propylene inventories increased by 2.1 million barrels last week and are about 10% below the five year average for this time of year. Total commercial petroleum inventories increased by 13.0 million barrels last week.
Total products supplied over the last four-week period averaged 20.1 million barrels a day, down by 2.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels a day, down by 6.3% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 3.7% from the same period last year. Jet fuel product supplied was up 11% compared with the same four-week period last year.
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