Crude oil inventories in the United States declined in the past week as imports dropped while refinery inputs increased.
- Commercial crude oil inventories stood at 423.6 million barrels in the week ending December 17, 2021, down 4.7 million barrels from the previous week.
- The latest reading is 8% lower than the five-year average for this time of the year.
- Increases were recorded in total motor gasoline inventories, finished gasoline, and blending components, and distillate fuel inventories.
- Declines were seen in propane/propylene inventories and total commercial petroleum inventories.
- Crude oil imports for the week averaged 6.2 million barrels per day, 277,000 barrels lower than the previous week. Motor gasoline imports averaged 688,00 barrels a day, and distillate fuel imports averaged 203,000 barrels a day.
- Crude oil refinery inputs averaged 15.8 million for the week, up by 148,000 from the previous week.
- Refineries operated at 89.6% of their capacity, with distillate fuel production up and gasoline production down.
- Total products supplied in the last four weeks averaged 20.9 million barrels a day, 11.0% higher than the comparable period in 2020.