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EIA Reports Crude Oil Inventory Increase of 4.3 Million Barrels

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   |    Thursday,November 12,2020

EIA Crude Inventory Report - Week Ending 11/6/2020

  • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.3 million barrels from the previous week (up 0.88% over last week)
  • At 488.7 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year
  • U.S. crude oil imports averaged 5.5 million barrels per day last week, up by 470,000 barrels per day from the previous week (up 10%)
  • Over the past four weeks, crude oil imports averaged about 5.3 million barrels per day, 12.6% less than the same four-week period last year

U.S. crude oil refinery inputs averaged 13.4 million barrels per day during the week ending November 6, 2020 which was 105,000 barrels per day less than the previous week’s average. Refineries operated at 74.5% of their operable capacity last week. Gasoline production increased last week, averaging 9.3 million barrels per day. Distillate fuel production decreased last week, averaging 4.2 million barrels per day.

Total products supplied over the last four-week period averaged 19.1 million barrels a day, down by 10.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.5 million barrels a day, down by 10.3% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, down by 8.9% from the same period last year. Jet fuel product supplied was down 43.5% compared with the same four-week period last year.

Total motor gasoline inventories decreased by 2.3 million barrels last week and are about 3% above the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 5.4 million barrels last week and are about 15% above the five year average for this time of year. Propane/propylene inventories decreased by 0.9 million barrels last week and are about 7% above the five year average for this time of year. Total commercial petroleum inventories decreased by 11.5 million barrels last week.


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