U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 21, increased by 452,000 barrels from the previous week, the Energy Information Administration reported Wednesday.
At 443.34 million barrels (Mmbbl), U.S. crude oil inventories as of last week are roughly 3% below the five-year average for mid-February, Kallanish Energy finds.
U.S. crude oil refinery inputs averaged 16.0 million barrels per day (Mmbpd) during the week ended Feb. 21, 202,000 Bpd fewer than the previous week’s average. Refineries operated at 87.9% of their operable capacity last week.
US crude inventory climbs for fifth straight week
|Week ended||Crude oil inventory||Change from last week|
|Feb. 21||443.34 million barrels||452,000 barrels|
|Feb. 14||442.88 Mmbbl||415,000 Bbls|
|Feb. 7||442.47 Mmbbl||7.46 million barrels|
|Jan. 31||435.01 Mmbbl||3.36 Mmbbl|
|Jan. 24||431.65 Mmbbl||3.55 Mmbbl|
(Source: Energy Information Administration)
Gasoline production increased last week, averaging 9.8 Mmbpd. Distillate fuel production fell last week, averaging 4.8 Mmbpd.
U.S. crude oil imports averaged 6.2 Mmbpd last week, down 330,000 Bpd from the week ended Feb. 14. Over the past four weeks, crude oil imports averaged roughly 6.6 Mmbpd, down 1.6% from the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 405,000 Bpd, and distillate fuel imports averaged 177,000 Bpd.
Total motor gasoline inventories fell by 2.7 Mmbbl last week and are roughly 2% above the five-year average for mid-February. Finished gasoline and blending components inventories both decreased last week.
Distillate fuel inventories fell by 2.1 Mmbbl last week and are about 5% below the five-year average for this time of year.
This post appeared first on Kallanish Energy News.