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EIA Reports Crude Oil Inventory Draw of 8.0 Million Barrels

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   |    Wednesday,November 04,2020

EIA Inventory - Week Ending October 30, 2020

  • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.0 million barrels (or -2%) from the previous week.
  • At 484.4 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year.
  • U.S. crude oil imports averaged 5.0 million barrels per day last week, decreased by 0.6 million barrels per day from the previous week (or -11%)
  • Over the past four weeks, crude oil imports averaged about 5.3 million barrels per day, 15.4% less than the same four-week period last year

U.S. crude oil refinery inputs averaged 13.6 million barrels per day during the week ending
October 30, 2020 which was 163,000 barrels per day more than the previous week’s average.
Refineries operated at 75.3% of their operable capacity last week. Gasoline production decreased
last week, averaging 9.1 million barrels per day. Distillate fuel production increased last week,
averaging 4.3 million barrels per day.

Total products supplied over the last four-week period averaged 18.9 million barrels a day, down
by 10.9% from the same period last year. Over the past four weeks, motor gasoline product
supplied averaged 8.4 million barrels a day, down by 10.9% from the same period last year.
Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks,
down by 7.3% from the same period last year. Jet fuel product supplied was down 44.6%
compared with the same four-week period last year.

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