U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), decreased by 2.3 million barrels from the week ending April 24 to the week ending Might 1.
That’s what the U.S. Power Info Administration (EIA) highlighted in its newest weekly petroleum standing report, which was launched on Might 6 and included information for the week ending Might 1.
This EIA report confirmed that crude oil shares, not together with the SPR, stood at 457.2 million barrels on Might 1, 459.5 million barrels on April 24, and 438.4 million barrels on Might 2, 2025. Crude oil within the SPR stood at 392.7 million barrels on Might 1, 397.9 million barrels on April 24, and 399.1 million barrels on Might 2, 2025, the report revealed.
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Complete petroleum shares – together with crude oil, whole motor gasoline, gasoline ethanol, kerosene sort jet gasoline, distillate gasoline oil, residual gasoline oil, propane/propylene, and different oils – stood at 1.634 billion barrels on Might 1, in accordance with the EIA’s newest weekly petroleum standing report. Complete petroleum shares had been down 11.1 million barrels week on week and up 21.6 million barrels yr on yr, the report identified.
“At 457.2 million barrels, U.S. crude oil inventories are about one % above the five-year common for this time of yr,” the EIA stated in its newest weekly petroleum standing report.
“Complete motor gasoline inventories decreased by 2.5 million barrels from final week and are 4 % beneath the five-year common for this time of yr,” it added.
“Completed gasoline inventories elevated, whereas mixing part inventories decreased final week. Distillate gasoline inventories decreased by 1.3 million barrels final week and are about 11 % beneath the five-year common for this time of yr,” it continued.
“Propane/propylene inventories decreased by 1.3 million barrels from final week and are 56 % above the five-year common for this time of yr,” it went on to state.
U.S. crude oil refinery inputs averaged 16.0 million barrels per day through the week ending Might 1, in accordance with the EIA’s report, which identified that this was 42,000 barrels per day lower than the earlier week’s common.
“Refineries operated at 90.1 % of their operable capability final week,” the EIA stated within the report.
“Gasoline manufacturing decreased final week, averaging 9.6 million barrels per day. Distillate gasoline manufacturing decreased, averaging 4.9 million barrels per day,” it added.
U.S. crude oil imports averaged 5.5 million barrels per day final week, the report famous. This marked a lower of 273,000 barrels per day from the earlier week, the EIA report revealed.
“Over the previous 4 weeks, crude oil imports averaged about 5.6 million barrels per day, 2.4 % lower than the identical four-week interval final yr,” the EIA stated.
“Complete motor gasoline imports (together with each completed gasoline and gasoline mixing elements) final week averaged 755,000 barrels per day, and distillate gasoline imports averaged 123,000 barrels per day,” it added.
Complete merchandise equipped during the last four-week interval averaged 20.3 million barrels per day, in accordance with the report, which highlighted that this was up by 2.6 % from the identical interval final yr.
“Over the previous 4 weeks, motor gasoline product equipped averaged 9.0 million barrels per day, up by 1.0 % from the identical interval final yr,” the EIA stated in its report.
“Distillate gasoline product equipped averaged 3.8 million barrels per day over the previous 4 weeks, up by 3.5 % from the identical interval final yr. Jet gasoline product equipped was down 6.2 % in contrast with the identical four-week interval final yr,” it added.
The EIA additionally highlighted in its report that the nationwide common retail value for normal gasoline elevated to $4.452 per gallon on Might 4, “$0.329 greater than final week’s value, and $1.305 greater than the year-ago value”.
“The nationwide common retail diesel gasoline value elevated $0.289 to $5.640 per gallon, $2.143 greater than the worth one yr in the past,” the EIA identified within the report.
Based on the AAA Gasoline Costs web site, the common value of normal gasoline and diesel within the U.S. stood at $4.558 per gallon and $5.674 per gallon, respectively, on Might 7.
In an oil and fuel report despatched to Rigzone this week by the Macquarie staff, Macquarie strategists, together with Walt Chancellor, outlined that they anticipated one other U.S. crude stock draw “amidst elevated exports”.
“We’re forecasting U.S. crude inventories down 5.0 million barrels for the week ending Might 1,” the strategists famous within the report.
“This follows a 6.2 million barrel draw within the prior week, with the crude steadiness realizing considerably tighter than our expectations,” they added.
In its earlier weekly petroleum standing report, which was launched on April 29 and included information for the week ending April 24, the EIA highlighted that U.S. industrial crude oil inventories, excluding these within the SPR, decreased by 6.2 million barrels from the week ending April 17 to the week ending April 24.
To contact the creator, e-mail andreas.exarheas@rigzone.com
