EIA Reports Crude Oil Inventory Draw of 1.6 Million Barrels

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   |    Wednesday,August 19,2020

EIA Inventory Report - Week Ending August 14, 2020

• U.S. crude oil imports averaged 5.7 million barrels per day last week, up by 109,000 barrels per day from the previous week (+2%)

• Over the past four weeks, crude oil imports averaged about 5.6 million barrels per day, 21.7% less than the same four-week period last year

• At 512.5 million barrels, U.S. crude oil inventories are about 15% above the five year average for this time of year

Total commercial petroleum inventories decreased last week by 2.6 million barrels last week.

U.S. crude oil refinery inputs averaged 14.5 million barrels per day during the week ending August 14, 2020 which was 171,000 barrels per day less than the previous week’s average. Refineries operated at 80.9% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased last week, averaging 4.7 million barrels per day.

Total products supplied over the last four-week period averaged 18.4 million barrels a day, down by 14.3% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 9.9% from the same period last year. Distillate fuel product supplied averaged 3.6 million barrels a day over the past four weeks, down by 6.1% from the same period last year.  Jet fuel product supplied was down 47.6% compared with the same four-week period last year.