US commercial crude oil inventories fell by 3.4 million barrels from the prior week.
- At 420.8 million barrels, US crude oil inventories stood at around 14% below the five-year average for this time of year.
- Total motor gasoline inventories dropped by 4.8 million barrels last week and are nearly 8% below the five-year average for this time of year.
- US crude oil refinery outputs hovered around 15.9 million barrels per day during the week ending May 13, 2022, 239,000 barrels per day, more than the prior week’s average.
- Refineries were operating at 91.8% operable capacity last week. Gasoline production fell last week, averaging 9.6 million barrels per day.
US crude oil imports hovered at 6.6 million barrels per day last week, an increase of 299,000 barrels per day from the prior week.
CL! down -3.62%, USOIL down -1.81%
Source: EIA
