U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Oct. 25, increased by 5.7 million barrels from the previous week, the Energy Information Administration reported Wednesday.
At 438.9 million barrels (Mmbbl), U.S. crude oil inventories are roughly 1% above the five-year average for late October, Kallanish Energy calculates.
Total motor gasoline inventories decreased by 3.0 Mmbbl last week and are roughly 2% above the five-year average for this time of year.
US crude inventories jump in latest survey
|Week ended||Crude in storage||Change from previous week|
|Oct. 25||438.85 million barrels||5.70 million barrels|
|Oct. 18||433.15 Mmbbl||(1.70 Mmbbl)|
|Oct. 11||434.85 Mmbbl||9.28 Mmbbl|
|Oct. 4||425.57 Mmbbl||2.93 Mmbbl|
|Sept. 27||422.64 Mmbbl||3.10 Mmbbl|
(Source: Energy Information Administration)
Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 1.0 Mmbbl last week and are roughly 11% below the five-year average. Propane/ propylene inventories decreased by 0.1 Mmbbl last week and are about 12% above the five-year average for this time of year.
U.S. crude oil refinery inputs averaged 16.0 million barrels per day (Mmbpd) during the week ended Oct. 25, which was 133,000 Bpd more than the previous week’s average, EIA reported. Refineries operated at 87.7% of their operable capacity last week.
Gasoline production increased last week, averaging 10.2 Mmbpd. Distillate fuel production increased last week, averaging 5.0 Mmbpd.
U.S. crude oil imports averaged 6.7 Mmbpd last week, up by 840,000 Bpd from the previous week. Over the past four weeks, crude oil imports averaged roughly 6.3 Mmbpd, 16.5% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 673,000 Bpd, and distillate fuel imports averaged 158,000 Bpd.
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