U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.91 million barrels (Mmbbl) during the week ended Sept. 6, from the previous week, the Energy Information Administration reported.
The American Petroleum Institute had U.S. crude inventories down 7.2 Mmbbl in the week ended Sept. 6, to 421.9 Mmbbl, compared with analysts’ expectations in a Reuters poll of a decrease of 2.7 Mmbbl.
At 416.1 million barrels, U.S. crude oil inventories are roughly 2% below the five-year average for early September, Kallanish Energy reveals.
U.S. crude oil refinery inputs averaged 17.5 million barrels per day (Mmbpd) during the week ended Sept. 6, 114,000 Bpd more than the previous week’s average. Refineries operated at 95.1% of their operable capacity last week.
Crude withdrawal passes analysts’ expectations
|Week ended||Stored crude||Change from previous week|
|Sept. 6||416.07 million barrels||(6.91 million barrels)|
|Aug. 30||422.98 Mmbbl||(4.77 Mmbbl)|
|Aug. 23||427.75 Mmbbl||(10.03 Mmbbl)|
|Aug. 16||437.78 Mmbbl||(2.73 Mmbbl)|
|Aug. 9||440.51 Mmbbl||1.58 Mmbbl|
(Source: Energy Information Administration)
Gasoline production increased last week, averaging 10.4 Mmbpd, while distillate fuel production also rose last week, averaging 5.3 Mmbpd.
U.S. crude oil imports averaged 6.7 Mmbpd last week, down 180,000 Bpd from the previous week. Over the past four weeks, crude oil imports averaged roughly 6.7 Mmbpd, 11.7% less than the same four-week period in 2018.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 797,000 Bpd, and distillate fuel imports averaged 44,000 Bpd, EIA found.
Total motor gasoline inventories decreased by 0.7 Mmbbl last week and are about 3% above the five-year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week.
Distillate fuel inventories increased by 2.7 Mmbbl last week and are about 6% below the five-year average for this time of year.
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