U.S. business crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), decreased by 3.3 million barrels from the week ending March 14 to the week ending March 21, the U.S. Power Data Administration (EIA) highlighted in its newest weekly petroleum standing report.
This report was revealed on March 26 and included knowledge for the week ending March 21. The 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 outlined. The EIA report highlighted that knowledge might not add as much as totals on account of impartial rounding.
Whole petroleum shares – together with crude oil, whole motor gasoline, gas ethanol, kerosene kind jet gas, distillate gas oil, residual gas oil, propane/propylene, and different oils – stood at 1.600 billion barrels on March 21, the report confirmed. Whole petroleum shares have been up 3.5 million barrels week on week and up 19.9 million barrels 12 months on 12 months, the report revealed.
- Advertisement -
“At 433.6 million barrels, U.S. crude oil inventories are about 5 p.c under the 5 12 months common for this time of 12 months,” the EIA stated in its newest weekly petroleum standing report.
“Whole motor gasoline inventories decreased by 1.4 million barrels from final week and are two p.c above the 5 12 months common for this time of 12 months. Completed gasoline inventories elevated and mixing elements inventories decreased final week,” it added.
“Distillate gas inventories decreased by 0.4 million barrels final week and are about seven p.c under the 5 12 months common for this time of 12 months. Propane/propylene inventories decreased by 0.2 million barrels from final week and are 11 p.c under the 5 12 months common for this time of 12 months,” it continued.
U.S. crude oil refinery inputs averaged 15.8 million barrels per day throughout the week ending March 21, 2025, the EIA famous in its newest report, including that this was 87,000 barrels per day greater than the earlier week’s common.
“Refineries operated at 87.0 p.c of their operable capability final week,” the EIA stated within the report.
“Gasoline manufacturing decreased final week, averaging 9.2 million barrels per day. Distillate gas manufacturing decreased final week, averaging 4.5 million barrels per day,” it added.
U.S. crude oil imports averaged 6.2 million barrels per day final week, in accordance with the report, which outlined that this was a rise of 810,000 barrels per day from the earlier week.
“Over the previous 4 weeks, crude oil imports averaged about 5.7 million barrels per day, 11.0 p.c lower than the identical four-week interval final 12 months,” the EIA famous within the report.
“Whole motor gasoline imports (together with each completed gasoline and gasoline mixing elements) final week averaged 589,000 barrels per day, and distillate gas imports averaged 120,000 barrels per day,” it added.
Whole merchandise provided over the past four-week interval averaged 20.2 million barrels a day, up by 0.5 p.c from the identical interval final 12 months, the EIA said within the report.
“Over the previous 4 weeks, motor gasoline product provided averaged 8.9 million barrels a day, down by 0.2 p.c from the identical interval final 12 months,” it added.
“Distillate gas product provided averaged 3.9 million barrels a day over the previous 4 weeks, up by 1.8 p.c from the identical interval final 12 months. Jet gas product provided was up 3.9 p.c in contrast with the identical four-week interval final 12 months,” the EIA went on to state.
In a report despatched to Rigzone on Thursday by the Skandinaviska Enskilda Banken AB (SEB) crew, Ole R. Hvalbye, a commodities analyst on the firm, stated, “business crude oil inventories (excl. SPR) fell by 3.3 million barrels, contrasting with final week’s construct and providing some worth help”.
“Over the previous 4 weeks, whole merchandise provided, a proxy for U.S. demand, averaged 20.2 million barrels per day, up 0.5 p.c in comparison with the identical interval final 12 months,” Hvalbye added.
“Gasoline provided averaged 8.9 million barrels per day, down 0.2 p.c, whereas diesel provided got here in at 3.9 million barrels per day, up 1.8 p.c. Jet gas demand additionally confirmed energy, rising 3.9 p.c over the identical four-week interval,” he went on to notice.
In an oil and fuel report despatched to Rigzone late Monday by the Macquarie crew, Macquarie strategists revealed that they have been forecasting that U.S. crude inventories could be down by 2.8 million barrels for the week ending March 21.
“This follows a 1.7 million barrel construct for the week ending March 14, with the crude stability realizing reasonably looser than our expectations amidst robust implied provide,” the strategists famous in that report.
In its earlier weekly petroleum standing report, which was launched on March 19 and included knowledge for the week ending March 14, the EIA highlighted that U.S. business crude oil inventories, excluding these within the SPR, elevated by 1.7 million barrels from the week ending March 7 to the week ending March 14.
The EIA’s subsequent weekly petroleum standing report is scheduled to be launched on April 2. It is going to embody knowledge for the week ending March 28.
To contact the creator, e-mail andreas.exarheas@rigzone.com
