US Crude Oil Inventories Down Amid Growth in Refinery Inputs and Imports

Source: EIA

Inventories of US commercial crude oil declined in the past week even as inputs and imports posted growth, according to data released by the Energy Information Administration.

• Commercial crude oil inventories for the week ending September 17 fell by 3.5 million barrels from the previous week to 414.0 million barrels. This is 8% below the five-year average.
• Total motor gasoline inventories jumped 3.5 million barrels, along with the increase in finished gasoline and blending components.
• Declines were recorded in distillate fuel inventories, propane/propylene, and total commercial petroleum inventories.
• Refinery inputs averaged 15.3 million barrels per day, 1.0 million barrels higher than the previous week. Refineries operated at 87.5%.
• Crude oil imports averaged 6.5 million barrels per day, 0.7 million barrels per day higher than the previous week. 
• Motor gasoline imports averaged 1.1 million barrels per day, and distillate fuel averaged 184,000.