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U.S. crude oil inventories increase by 5.0 million barrels

U.S. crude oil inventories increase by 5.0 million barrels


Weekly Crude Oil Storage as of May 12, 2023

 

U.S. crude oil inventories increase by 5.0 million barrels- oil and gas 360

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U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.0 million barrels from the previous week.  At 467.6 million barrels, U.S. crude oil inventories are slightly below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as of May 12, 2023.

Summary of weekly petroleum data for the week ending May 12, 2023

U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending May 12, 2023, which was 245 thousand barrels per day more than the previous week’s average. Refineries operated at 92.0% of their operable capacity last week.

  • Gasoline production decreased last week, averaging 9.5 million barrels per day.
  • Distillate fuel production increased last week, averaging 4.9 million barrels per day.

Imports

U.S. crude oil imports averaged 6.9 million barrels per day last week, increased by 1,306,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 0.3% more than the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 844,000 barrels per day, and distillate fuel imports averaged 128,000 barrels per day.

Products inventories

  • Total motor gasoline inventories decreased 1.4 million barrels from last week and are at 6% below the five year average for this time of year.
  • Finished gasoline inventories decreased while blending components inventories increased last week.
  • Distillate fuel inventories decreased by 0.1 million barrels from last week and are about 16% below the five year average for this time of year.
  • Propane/propylene inventories increased 2.3 million barrels from last week and are 30% above the five year average for this time of year.
  • Total commercial petroleum inventories increased by 7.6 million barrels last week.

Products supplied

Total products supplied over the last four-week period averaged 19.9 million barrels per day, up by 2.0% from the same period last year. Over the past four weeks:

  • Motor gasoline product supplied averaged 9.1 million barrels per day, up by 2.9% from the same period last year.
  • Distillate fuel product supplied averaged 3.8 million barrels per day over the past four weeks, down by 0.1% from the same period last year.
  • Jet fuel product supplied was up 4.4% compared with the same four-week period last year.

 

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