Crude Inventory Increases 13.8M Barrels, Gasoline Falls 11.9M Barrels and Distillate Drops 5.5M
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(Updated - March 10, 2021 10:32 AM EST)
- Crude Inventory +13.8M Barrels vs +333K Expected
- Cushing 526K
- Gasoline -11.9M Barrels vs -2.59M Expected
- Distillate -5.5M vs -2.3M Expected
Summary of Weekly Petroleum Data for the week ending March 5, 2021
U.S. crude oil refinery inputs averaged 12.3 million barrels per day during the week ending March 5, 2021 which was 2.4 million barrels per day more than the previous week’s average. Refineries operated at 69.0% of their operable capacity last week. Gasoline production increased last week, averaging 9.0 million barrels per day. Distillate fuel production increased last week, averaging 3.7 million barrels per day.
U.S. crude oil imports averaged 5.7 million barrels per day last week, decreased by 0.6 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.6 million barrels per day, 11.7% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 577,000 barrels per day, and distillate fuel imports averaged 472,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 13.8 million barrels from the previous week. At 498.4 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year. Total motor gasoline inventories decreased by 11.9 million barrels last week and are about 6% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 5.5 million barrels last week and are about 4% below the five year average for this time of year. Propane/propylene inventories were virtually unchanged last week and are about 15% below the five year average for this time of year. Total commercial petroleum inventories increased by 1.3 million barrels last week.
Total products supplied over the last four-week period averaged 19.2 million barrels a day, down by 7.1% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.1 million barrels a day, down by 11.2% from the same period last year. Distillate fuel product supplied averaged 4.2 million barrels a day over the past four weeks, up by 3.1% from the same period last year. Jet fuel product supplied was down 29.8% compared with the same four-week period last year.
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