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EIA Reports Crude Oil Inventory Draw of 7.4 Million Barrels

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   |    Wednesday,August 05,2020

Weekly EIA Inventory Report - Week Ending July 31, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.4 million barrels from the previous week (down 2%)
  • U.S. crude oil imports averaged 6.0 million barrels per day last week, increased by 0.9 million barrels per day from the previous week (up 18%)
  • Over the past four weeks, crude oil imports averaged about 5.7 million barrels per day, 18.1% less than the same four-week period last year
  • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.4 million barrels from the previous week (down 2%)
  • At 518.6 million barrels, U.S. crude oil inventories are about 16% above the five year average for this time of year

U.S. crude oil refinery inputs averaged 14.6 million barrels per day during the week ending July 31, 2020 which was 42,000 barrels per day more than the previous week’s average. Refineries operated at 79.6% of their operable capacity last week. Gasoline production increased last week, averaging 9.3 million barrels per day. Distillate fuel production increased last week, averaging 4.9 million barrels per day.

Total products supplied over the last four-week period averaged 18.3 million barrels a day, down by 13.5% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 9.1% from the same period last year. Distillate fuel product supplied averaged 3.6 million barrels a day more than the past four weeks, down by 8.7% from the same period last year.  Jet fuel product supplied was down 40.9% compared with the same four-week period last year.


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