U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Nov. 29, fell by 4.9 million barrels (Mmbbl) from the previous week, the Energy Information Administration reported Wednesday.
At 447.1 Mmbbl, U.S. crude oil inventories are roughly 3% above the five-year average for late November, Kallanish Energy learns.
U.S. crude oil refinery inputs averaged 16.8 million barrels per day (Mmbpd) last week, which was 464,000 barrels per day more than the previous week’s average. Refineries operated at 91.9% of their operable capacity last week.
US crude inventories drop 4.86 Mmbbl: EIA
|Week ended||Crude oil in storage||Change from previous week|
|Nov. 29||447.10 million barrels||(4.86 million barrels)|
|Nov. 22||451.95 Mmbbl||1.57 Mmbbl|
|Nov. 15||450.38 Mmbbl||1.38 Mmbbl|
|Nov. 8||449.00 Mmbbl||2.22 Mmbbl|
|Nov. 1||446.78 Mmbbl||7.93 Mmbbl|
(Source: Energy Information Administration)
Gasoline production decreased last week, averaging 9.9 Mmbpd. Distillate fuel production increased last week, averaging 5.3 Mmbpd, EIA found.
U.S. crude oil imports averaged 6.0 Mmbpd last week, down by 201,000 Bpd from the previous week. Over the past four weeks, crude oil imports averaged roughly 6.0 Mmbpd, down 21.3% from the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 399,000 Bpd, and distillate fuel imports averaged 143,000 Bpd.
Total motor gasoline inventories increased by 3.4 Mmbbl last week and are roughly 4% above the five-year average for this time of year. Finished gasoline and blending components inventories both increased last week.
Distillate fuel inventories increased by 3.1 Mmbbl last week, and are roughly 11% below the five-year average for late November.
This post appeared first on Kallanish Energy News.