Crude oil inventories in the United States jumped in the past week as refinery inputs and imports increased during the period.
- Commercial crude oil inventories for the week ending April 1 stood at 412.4 million barrels, 2.4 million barrels higher than the week earlier. This is about 14% below the five-year average for the time of the year.
- Declines were seen in inventories of total motor gasoline, and finished gasoline, while increases were recorded in inventories of distillate fuel, propane/propylene, and total commercial petroleum.
- Refinery inputs increased by 35,000 per day to an average of 15.9 million, as refineries operated at 92.5% of their capacity. Production of gasoline climbed while fuel production declined.
- Crude oil imports increased by 41,000 barrels per day to an average of 6.3 million barrels per day, bringing the four-week average up 8.9% to 6.4 million barrels per day. Motor gasoline imports climbed by 88,000 barrels per day to 484,000 barrels.
Products supplied over the last four weeks stood at 20.4 million barrels daily, 5.5% higher than the same period in 2021.
OIL is down 0.03%.
Source: EIA