EIA Reports Crude Inventory Draw of 3.4 Million Barrels of Oil

Email    |    Print    |    Bookmark

You Need to login first

   |    Wednesday,May 18,2022

EIA Crude Inventory: Week Ending May 13, 2022

• U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.4 million barrels from the previous week.

• At 420.8 million barrels, U.S. crude oil inventories are about 14% below the five year average for this time of year.

• U.S. crude oil imports averaged 6.6 million barrels per day last week, up by 299,000 barrels per day from the previous week.

• Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 4.7% more than the same four-week period last year.

U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending May 13, 2022 which was 239,000 barrels per day more than the previous week’s average. Refineries operated at 91.8% of their operable capacity last week. Gasoline production decreased last week, averaging 9.6 million barrels per day. Distillate fuel production decreased last week, averaging 4.9 million barrels per day.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 876,000 barrels per day, and distillate fuel imports averaged 114,000 barrels per day.

Total motor gasoline inventories decreased by 4.8 million barrels last week and are about 8% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories increased by 1.2 million barrels last week and are about 22% below the five year average for this time of year. Propane/propylene inventories increased by 0.3 million barrels last week and are about 10% below the five year average for this time of year. Total commercial petroleum inventories decreased last week by 2.9 million barrels last week.

Total products supplied over the last four-week period averaged 19.5 million barrels a day, up by 1.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 1.2% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 6.7% from the same period last year. Jet fuel product supplied was up 28.6% compared with the same four-week period last year.