Commercial crude oil inventories increased in the week ending March 11, as oil refinery inputs and imports both posted increases.
- Inventories for the week climbed by 4.3 million barrels to 415.9 million barrels but remain 12% lower than the five-year average for this time of the year. Declines were seen in motor gasoline, finished gasoline, propane/propylene, and commercial petroleum.
- The output of crude oil refinery inputs increased by 224,000 barrels per day to 15.6 million barrels daily, with refineries operating at 90.4% of their capacity. Gasoline production declined, while distillate fuel production increased.
- Crude oil imports jumped by 76,000 barrels per day to 6.4 million barrels daily, with motor gasoline imports averaging 531,000 barrels per day and distillate fuel imports at 222,000 barrels daily.
Total products supplied in the last four weeks averaged 21.0 million barrels per day, up 12.2% from the past year.
USO is up 0.63%
Source: EIA
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