Commercial crude oil inventories in the United States posted a rebound as refinery inputs grew while imports declined.
- Inventories for the week ending January 21, 2022, grew by 2.4 million barrels to 416.2 million barrels. This is 8% lower than the moving five-year average.
- Weekly increases were recorded in inventories of motor gasoline, finished gasoline and blending components, and commercial petroleum.
- Decreases were seen in inventories of distillate fuel propane/propylene during the week.
- Average refinery inputs stood at 15.5 million barrels per day, up 44,000 barrels per day from the previous week. Gasoline and distillate fuel production were both up.
- Crude oil imports averaged 6.2 million barrels per day, down 0.5 million weekly. The four-week average stood at 6.2 million barrels, up 9.8% from last year.
- Total products supplied in the last four weeks stood at an average of 21.2 million barrels a day, up 11.6% from the comparable period in 2021.