Commercial crude oil inventories in the United States increased in the first week of April, even as refinery inputs climbed while imports declined.
- Commercial crude oil inventories for the week ending April 8 stood at 421.8 million barrels, reflecting an increase of 9.4 million barrels from the previous week. This is 13% lower than the five-year average for this the year.
- Increases were seen in inventories of propane/propylene and commercial petroleum, while declines were recorded in motor gasoline, finished gasoline and blending components, and distillate fuel.
- Refinery inputs for the week averaged 15.5 million barrels per day, marking a decrease of 424,000 barrels per day as refineries operated at 90.0% of their operable capacity. Gasoline production increased while distillate fuel production fell.
- Imports averaged 6.0 million barrels per day, down by 305,000 barrels per day. This brought the four-week average to 6.3 million barrels per day, 4.9% higher than in 2021. Motor gasoline imports averaged 439,000 barrels per day and 154,000 barrels per day.
Products supplied in the last four weeks averaged 19.9 million barrels a day, marking a 1.3% increase from 2021.
OIL is up 0.85%, while USO is up 1.40%.