U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), elevated by 1.4 million barrels from the week ending February 28 to the week ending March 7, the U.S. Power Info Administration (EIA) highlighted in its newest weekly petroleum standing report.
That report was launched on March 12 and included information for the week ending March 7. The report confirmed that crude oil shares, not together with the SPR, stood at 435.2 million barrels on March 7, 433.8 million barrels on February 28, and 447.0 million barrels on March 8, 2024. Crude oil within the SPR stood at 395.6 million barrels on March 7, 395.3 million barrels on February 28, and 361.6 million barrels on March 8, 2024, the report outlined.
Complete petroleum shares – together with crude oil, whole motor gasoline, gas ethanol, kerosene sort jet gas, distillate gas oil, residual gas oil, propane/propylene, and different oils – stood at 1.594 billion barrels on March 7, the report confirmed. Complete petroleum shares had been down 5.7 million barrels week on week and up 15.2 million barrels yr on yr, the report revealed.
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“At 435.2 million barrels, U.S. crude oil inventories are about 5 % under the 5 yr common for this time of yr,” the EIA mentioned within the report.
“Complete motor gasoline inventories decreased by 5.7 million barrels from final week and are one % above the 5 yr common for this time of yr. Completed gasoline inventories and mixing parts inventories each decreased final week,” it added.
“Distillate gas inventories decreased by 1.6 million barrels final week and are about 5 % under the 5 yr common for this time of yr. Propane/propylene inventories decreased by 3.4 million barrels from final week and are 10 % under the 5 yr common for this time of yr,” it continued.
U.S. crude oil refinery inputs averaged 15.7 million barrels per day in the course of the week ending March 7, 2025, in accordance with the report, which famous that this was 321,000 barrels per day greater than the earlier week’s common.
“Refineries operated at 86.5 % of their operable capability final week,” the EIA mentioned within the report.
“Gasoline manufacturing decreased final week, averaging 9.6 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 5.5 million barrels per day final week, the EIA said within the report. It highlighted that this was a lower of 343,000 barrels per day from the earlier week.
“Over the previous 4 weeks, crude oil imports averaged about 5.8 million barrels per day, 10.6 % lower than the identical four-week interval final yr,” the EIA mentioned in its report.
“Complete motor gasoline imports (together with each completed gasoline and gasoline mixing parts) final week averaged 578,000 barrels per day, and distillate gas imports averaged 249,000 barrels per day,” it added.
Complete merchandise provided over the past four-week interval averaged 20.7 million barrels a day, up by 3.9 % from the identical interval final yr, the EIA said in its newest weekly petroleum standing report.
“Over the previous 4 weeks, motor gasoline product provided averaged 8.7 million barrels a day, up by 0.1 % from the identical interval final yr,” the EIA mentioned.
“Distillate gas product provided averaged 4.1 million barrels a day over the previous 4 weeks, up by 9.5 % from the identical interval final yr. Jet gas product provided was up 1.5 % in contrast with the identical four-week interval final yr,” it added.
In an oil and fuel report despatched to Rigzone by the Macquarie staff late Monday, Macquarie strategists revealed that they had been forecasting that U.S. crude inventories can be up 5.7 million barrels for the week ending March 7.
“This compares to our early search for the week which anticipated a 7.9 million barrel construct, and a 3.6 million barrel construct realized for the week ending February 28,” the strategists mentioned within the report.
“Throughout each crude and merchandise, our balances are modestly tighter than anticipated in our early view,” they added.
In its earlier weekly petroleum standing report, which was launched on March 5 and included information for the week ending February 28, the EIA highlighted that U.S. industrial crude oil inventories, excluding these within the SPR, elevated by 3.6 million barrels from the week ending February 21 to the week ending February 28.
The EIA’s subsequent weekly petroleum standing report is scheduled to be launched on March 19. It should embrace information for the week ending March 14.
To contact the creator, electronic mail andreas.exarheas@rigzone.com
