US Oil Inventories Grow for Second Straight Week to 434.1 Million Barrels

Source: EIA

American crude oil inventories climbed for the second straight week even as refinery inputs and oil imports declined, the Energy Information Administration reported.

• Commercial crude oil inventories for the week ending October 29, 2021 increased by 3.3 million barrels to 434.1 million barrels.
• Increases were reported in total motor gasoline, finished gasoline, distillate fuel, propane/propylene, and commercial petroleum inventories.
• Oil refinery inputs for the week averaged 15.0 million barrels per day, down by 25,000 barrels per day from the past week.
• Gasoline production grew to an average of 10.2 million barrels per day, while distillate fuel production jumped to an average of 4.8 million barrels per day.
• The average crude oil imports stood at 6.2 million barrels, down by 83,000 barrels per day from the previous week.
• Total motor gasoline imports averaged 667,000 barrels per day, and distillate fuel imports at 190,000 barrels per day.
• Total products supplied over the last four-week period stood at an average of 20.4 million barrels a day, up 7.9% from last year.