Commercial crude oil inventories in the United States declined to 419.8 million barrels in the past week, as imports declined during the period.
- The latest commercial crude oil inventories reflected a decline of 1.0 million barrels, indicating a 14% drop from the five-year average for the time of the year. Declines were reported in motor gasoline, finished gasoline, and blending components.
- Weekly increases were recorded in inventories of distillate fuel and propane/propylene, but they both remained below the five-year average, along with the increase in total commercial petroleum inventories.
- Imports for the week averaged 6.5 million barrels per day, or 82,000 barrels per day lower than the previous week. The four-week average climbed by 8.6% to 6.4 million barrels per day.
- Refinery inputs averaged 16.3 million barrels per day, indicating an increase of 334,000 barrels per day from the previous week. Refineries operated at 93.2% of their operable capacity.
Total products supplied over the last four weeks averaged 19.5 million barrels a day, equivalent to a 2.1% increase from the same period last year.
USO is down 0.11%, while OIL is up 0.15%.