United States crude oil inventories – excluding the country’s strategic reserve – fell by 2.5 million barrels in the week ended June 14 compared to the previous week, the Energy Department reported on Thursday (20).
At 457.1 million barrels, total stocks are about 4% below the five-year average for this time of year.
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US crude oil imports averaged 7.1 million barrels per day last week, down 1.3 million barrels per day from the previous week. Over the past four weeks, crude oil imports have averaged about 7.3 million barrels per day, up 11.6% compared to the same four-week period last year.
Total motor gasoline imports (including finished gasoline and gasoline blend components) averaged 1 million barrels per day, and distillate fuel imports averaged 150 thousand barrels per day.
According to the report, total motor gasoline inventories are down 2.3 million barrels from the previous week and about 1% below the five-year average for this time of year.
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Distillate fuel stockpiles fell by 1.7 million barrels last week and are about 8% below the five-year average for this time of year.
Refineries operated at 93.5% of their capacity during the week. Gasoline production increased, reaching an average of 10.2 million barrels per day. In turn, the production of distillate fuels decreased to an average of 4.8 million barrels per day.
