US crude oil inventories dropped by 4.7 million to 423.6 million barrels in the week closing December 17.
- The total commercial petroleum inventories were reduced by 7 million barrels per week in the same period.
- Crude oil refinery inputs hovered around 15.8 million barrels per day in the same week. That figure was 148,000 barrels per day, more than the prior week’s average.
- Gasoline production dropped last week, hovering around 9.9 million barrels per day as refineries operated at 89.6% of their operable capacity in the same period.
- Meanwhile, crude oil imports averaged 6.2 million barrels per day last week, a decrease of 277,000 barrels compared to the prior week.
Total product supplied over the last four-week period hovered around 20.9 million barrels per day, an increase of 11.0% from the same period last year.
CL1! Up +0.66%, USOIL up +0.49%
Source: EIA