U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), decreased by 2.8 million barrels from the week ending Could 16 to the week ending Could 23, the U.S. Power Data Administration (EIA) highlighted in its newest weekly petroleum standing report.
This report was launched on Could 29 and included knowledge for the week ending Could 23. It confirmed that crude oil shares, not together with the SPR, stood at 440.4 million barrels on Could 23, 443.2 million barrels on Could 16, and 454.7 million barrels on Could 24, 2024. Crude oil within the SPR stood at 401.3 million barrels on Could 23, 400.5 million barrels on Could 16, and 369.3 million barrels on Could 24, 2024, the report outlined.
Complete petroleum shares – together with crude oil, complete motor gasoline, gas ethanol, kerosene kind jet gas, distillate gas oil, residual gas oil, propane/propylene, and different oils – stood at 1.623 billion barrels on Could 23, the report confirmed. Complete petroleum shares had been up 0.2 million barrels week on week and down 8.7 million barrels 12 months on 12 months, the report revealed.
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“At 440.4 million barrels, U.S. crude oil inventories are about six p.c under the 5 12 months common for this time of 12 months,” the EIA stated in its newest weekly petroleum standing report.
“Complete motor gasoline inventories decreased by 2.4 million barrels from final week and are about three p.c under the 5 12 months common for this time of 12 months. Each completed gasoline inventories and mixing parts inventories decreased final week,” it added.
“Distillate gas inventories decreased by 0.7 million barrels final week and are about 17 p.c under the 5 12 months common for this time of 12 months. Propane/propylene inventories elevated by two million barrels from final week and are 4 p.c under the 5 12 months common for this time of 12 months,” it continued.
U.S. crude oil refinery inputs averaged 16.3 million barrels per day through the week ending Could 23, in response to the report, which highlighted that this was 162,000 barrels per day lower than the earlier week’s common.
“Refineries operated at 90.2 p.c of their operable capability final week,” the EIA stated within the report.
“Gasoline manufacturing elevated final week, averaging 9.8 million barrels per day. Distillate gas manufacturing elevated by 100,000 barrels per day final week, averaging 4.8 million barrels per day,” it added.
U.S. crude oil imports averaged 6.4 million barrels per day final week, the report famous. It outlined that this was a rise of 262,000 barrels per day from the earlier week.
“Over the previous 4 weeks, crude oil imports averaged about six million barrels per day, 10.3 p.c lower than the identical four-week interval final 12 months,” the EIA acknowledged within the report.
“Complete motor gasoline imports (together with each completed gasoline and gasoline mixing parts) final week averaged 755,000 barrels per day, and distillate gas imports averaged 114,000 barrels per day,” it added.
Complete merchandise provided over the past four-week interval averaged 19.9 million barrels a day, the report famous. It identified that this was down by 0.2 p.c from the identical interval final 12 months.
“Over the previous 4 weeks, motor gasoline product provided averaged 8.9 million barrels a day, down by 1.5 p.c from the identical interval final 12 months,” the EIA stated within the report.
“Distillate gas product provided averaged 3.7 million barrels a day over the previous 4 weeks, down by 2.6 p.c from the identical interval final 12 months. Jet gas product provided was up 5.3 p.c in contrast with the identical four-week interval final 12 months,” it added.
The EIA additionally famous in its report that the nationwide common retail worth for normal gasoline decreased to $3.160 per gallon on Could 26, 2025, “$0.013 lower than final week’s worth, and $0.417 lower than the year-ago worth”. The nationwide common retail diesel gas worth decreased $0.049 to $3.487 per gallon, $0.271 decrease than the value one 12 months in the past, the EIA added.
In line with the AAA Gas Costs web site, as of Could 30, within the U.S., the typical worth of normal gasoline is $3.162 per gallon and the typical worth of diesel is $3.536 per gallon.
In an oil and fuel report despatched to Rigzone late Tuesday by the Macquarie workforce, Macquarie strategists revealed that they had been forecasting that U.S. crude inventories can be up by 2.4 million barrels for the week ending Could 23.
“This follows a 1.3 million barrel construct within the prior week, with the crude steadiness realizing considerably looser than our expectations,” the Macquarie strategists acknowledged in that report.
To contact the creator, e mail andreas.exarheas@rigzone.com
