U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), elevated by 6.2 million barrels from the week ending March 21 to the week ending March 28, the U.S. Power Info Administration (EIA) highlighted in its newest weekly petroleum standing report.
That report was launched on April 2 and included information for the week ending March 28. The EIA report confirmed that crude oil shares, not together with the SPR, stood at 439.8 million barrels on March 28, 433.6 million barrels on March 21, and 451.4 million barrels on March 29, 2024. Crude oil within the SPR stood at 396.4 million barrels on March 28, 396.1 million barrels on March 21, and 363.6 million barrels on March 29, 2024, the report outlined.
Whole petroleum shares – together with crude oil, whole motor gasoline, gasoline ethanol, kerosene kind jet gasoline, distillate gasoline oil, residual gasoline oil, propane/propylene, and different oils – stood at 1.605 billion barrels on March 28, the report confirmed. Whole petroleum shares had been up 5.6 million barrels week on week and up 27.2 million barrels yr on yr, the report revealed.
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“At 439.8 million barrels, U.S. crude oil inventories are about 4 p.c under the 5 yr common for this time of yr,” the EIA stated in its report.
“Whole motor gasoline inventories decreased by 1.6 million barrels from final week and are two p.c above the 5 yr common for this time of yr. Completed gasoline inventories elevated and mixing parts inventories decreased final week,” it added.
“Distillate gasoline inventories elevated by 0.3 million barrels final week and are about six p.c under the 5 yr common for this time of yr. Propane/propylene inventories elevated by 1.0 million barrels from final week and are eight p.c under the 5 yr common for this time of yr,” it continued.
The EIA went on to notice within the report that U.S. crude oil refinery inputs averaged 15.6 million barrels per day through the week ending March 28, including that this was 192,000 barrels per day lower than the earlier week’s common.
“Refineries operated at 86.0 p.c of their operable capability final week,” the EIA stated within the report.
“Gasoline manufacturing elevated final week, averaging 9.3 million barrels per day. Distillate gasoline manufacturing elevated final week, averaging 4.7 million barrels per day,” it added.
U.S. crude oil imports averaged 6.5 million barrels per day final week, in keeping with the report, which outlined that this was a rise of 271,000 barrels per day from the earlier week.
“Over the previous 4 weeks, crude oil imports averaged about 5.9 million barrels per day, 6.3 p.c lower than the identical four-week interval final yr,” the EIA stated in its report.
“Whole motor gasoline imports (together with each completed gasoline and gasoline mixing parts) final week averaged 748,000 barrels per day, and distillate gasoline imports averaged 149,000 barrels per day,” it added.
Whole merchandise equipped over the past four-week interval averaged 20.1 million barrels a day, down by 1.2 p.c from the identical interval final yr, the EIA acknowledged in its report.
“Over the previous 4 weeks, motor gasoline product equipped averaged 8.8 million barrels a day, down by 1.9 p.c from the identical interval final yr,” it added.
“Distillate gasoline product equipped averaged 3.8 million barrels a day over the previous 4 weeks, up by 3.7 p.c from the identical interval final yr. Jet gasoline product equipped was up 4.2 p.c in contrast with the identical four-week interval final yr,” it went on to state.
The EIA additionally famous in its report that the nationwide common retail value for normal gasoline elevated to $3.162 per gallon on March 31, 2025, which it identified was “$0.047 above final week’s value, and $0.355 lower than the yr in the past value”.
“The nationwide common retail diesel gasoline value elevated $0.025 to $3.592 per gallon, $0.404 decrease than the worth one yr in the past,” the EIA added within the report.
In response to the AAA Gas Costs web site, the common U.S. common gasoline value is $3.260 per gallon and the common U.S. diesel value is $3.638 per gallon, as of April 3.
In an oil and fuel report despatched to Rigzone late Monday by the Macquarie crew, Macquarie strategists revealed that they had been forecasting that U.S. crude inventories can be up by 4.2 million barrels for the week ending March 28.
“This follows a 3.3 million barrel draw for the week ending March 21 and compares to our preliminary expectation for a bigger crude construct this week,” the strategists stated in that report.
In its earlier weekly petroleum standing report, which was launched on March 26 and included information for the week ending March 21, the EIA highlighted that U.S. industrial crude oil inventories, excluding these within the SPR, decreased by 3.3 million barrels from the week ending March 14 to the week ending March 21.
That EIA report confirmed that crude oil shares, not together with the SPR, stood at 433.6 million barrels on March 21, 437.0 million barrels on March 14, and 448.2 million barrels on March 22, 2024. Crude oil within the SPR stood at 396.1 million barrels on March 21, 395.9 million barrels on March 14, and 363.1 million barrels on March 22, 2024, the report revealed. The EIA report highlighted that information could not add as much as totals on account of unbiased rounding.
To contact the creator, e-mail andreas.exarheas@rigzone.com
