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US crude oil inventories have increased over the last week, according to the recent report by the EPA.
US Crude Inventories Up by 5.7 MMBbls from Last Week
U.S. commercial crude oil inventories increased by 5.7 million barrels from the previous week.
At 538.1 million barrels, U.S. crude oil inventories are about 14% above the five year average for this time of year.
Imports Up 11% from Last Week, But Still Down YOY
U.S. crude oil imports averaged 6.9 million barrels per day last week, increased by 0.7 million barrels per day from the previous week (or +11%).
- Crude Imports Still Down YOY: Crude oil imports averaged about 6.4 million barrels per day, 13.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 629,000 barrels per day, and distillate fuel imports averaged 177,000 barrels per day.
Total products supplied over the last four-week period averaged 16.3 million barrels a day, down by 20.1% from the same period last year.
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