U.S. crude oil inventories increase by 10.2 million barrels

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 10.2 million barrels. It is from the previous week.  At 424.2 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year. This is according to the EIA crude oil and petroleum weekly storage data, reporting inventories as of October 6, 2023.

U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending October 6, 2023, which was 399 thousand barrels per day less than the previous week’s average. Refineries operated at 85.7% of their operable capacity last week.

• Gasoline production increased last week, averaging 9.7 million barrels per day.
• Distillate fuel production increased last week, averaging 4.7 million barrels per day.

Imports

U.S. crude oil imports averaged 6.3 million barrels per day last week, increased by 115 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 3.5% more than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 589 thousand barrels per day, and distillate fuel imports averaged 120 thousand barrels per day.

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Source: Oil & Gas 360

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