Crude oil inventories in the United States declined further in the past week, as imports fell even as inputs increased.
- Commercial crude oil inventories for the week ending December 31 fell by 2.1 million barrels from the previous week to 417.9 million barrels.
- The latest figure brings the inventories about 8% lower than the five-year average for this time of the year.
- Increases were seen in inventories in total motor gasoline, distillate fuel, and total commercial petroleum.
- Declines were recorded in finished gasoline, and propane/propylene inventories.
- Refinery inputs averaged 15.9 million barrels a day, 163,000 barrels lower than the previous week as refineries operated at 89.8%.
- Crude oil imports decreased by 0.9 million barrels a day to 5.9 million barrels per day. The four-week imports averaged 6.3 million barrels per day, up 16.7% year-on-year.
- Total products supplied in the last four-week period climbed by 14.4% to an average of 21.4 million barrels a day.