The US Energy Information Administration (EIA) released its Weekly Petroleum Status, according to which US commercial crude oil inventories decreased by 1.6 million barrels from the previous week, and are now lower than the average range for this time of year.
US crude oil refinery inputs were about 15.8 million barrels per day during the week ending February 16, 2018, 329,000 barrels per day less than the previous week’s average. Refineries operated at 88.1% of their operable capacity last week. Gasoline production increased, averaging 10.1 million barrels per day. Distillate fuel production decreased also, averaging over 4.5 million barrels per day.
US crude oil imports averaged over 7.0 million barrels per day, a decrease of 867,000 barrels per day. The last four weeks, crude oil imports averaged about 7.8 million barrels per day, 6.6% less than the same four-week period last year. Total motor gasoline imports averaged 350,000 barrels per day.
Total motor gasoline inventories reported an increase of 0.3 million barrels, and are above the average range. Total commercial petroleum inventories decreased, on the other hand, by 7.9 million barrels last week.
Finally, he total amount of products supplied over the last four-week period averaged 20.6 million barrels per day, increasing by 4.3% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9.1 million barrels per day, up by 5.4% from the same period last year.
To see the full weekly report by EIA, click in the PDF herebelow