U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), elevated by 0.4 million barrels from the week ending December 12 to the week ending December 19.
That’s what the U.S. Vitality Data Administration (EIA) highlighted in its newest weekly petroleum standing report on the time of writing, which was launched late Monday and included information for the week ending December 19.
In line with the report, crude oil shares, not together with the SPR, stood at 424.8 million barrels on December 19, 424.4 million barrels on December 12, and 416.8 million barrels on December 20, 2024.
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Crude oil within the SPR stood at 413.0 million barrels on December 19, 412.2 million barrels on December 12, and 393.3 million barrels on December 20, 2024, the report confirmed. Whole 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 1.688 billion barrels on December 19, the report confirmed. Whole petroleum shares had been up 1.5 million barrels week on week and up 74.8 million barrels yr on yr, the report identified.
“At 424.8 million barrels, U.S. crude oil inventories are about three p.c beneath the 5 yr common for this time of yr,” the EIA stated in its newest weekly petroleum standing report.
“Whole motor gasoline inventories elevated by 2.9 million barrels from final week and are barely above the 5 yr common for this time of yr. Each completed gasoline and mixing elements inventories elevated final week,” it added.
“Distillate gas inventories elevated by 0.2 million barrels final week and are about 5 p.c beneath the 5 yr common for this time of yr. Propane/propylene inventories decreased 0.5 million barrels from final week and are about 22 p.c above the 5 yr common for this time of yr,” it continued.
U.S. crude oil refinery inputs averaged 16.8 million barrels per day throughout the week ending December 19, in response to the report, which highlighted that this was 212,000 barrels per day lower than the earlier week’s common.
“Refineries operated at 94.6 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 108,000 barrels per day final week, averaging 5.3 million barrels per day,” it added.
The report went on to state that “U.S. crude oil imports averaged 6.1 million barrels per day final week”, noting that this was this was “decreased by 440,000 barrels per day from the earlier week”.
“Over the previous 4 weeks, crude oil imports averaged about 6.3 million barrels per day, 4.6 p.c lower than the identical four-week interval final yr,” the EIA stated within the report.
“Whole motor gasoline imports (together with each completed gasoline and gasoline mixing elements) final week averaged 668,000 barrels per day, and distillate gas imports averaged 181,000 barrels per day,” it added.
The EIA additionally said in its report that “complete merchandise provided over the past four-week interval averaged 20.5 million barrels a day, down by 0.8 p.c from the identical interval final yr”.
“Over the previous 4 weeks, motor gasoline product provided averaged 8.7 million barrels a day, down by 1.9 p.c from the identical because the final yr interval,” it famous.
“Distillate gas product provided averaged 3.9 million barrels a day over the previous 4 weeks, down by 0.4 p.c from the identical interval final yr. Jet gas product provided was down 3.1 p.c in contrast with the identical four-week interval final yr,” it continued.
In a press release despatched to Rigzone by the EIA on December 19, the EIA highlighted that the federal authorities can be closed from December 24 to December 26 and revealed that it might be releasing its weekly petroleum standing report, with information for the week ending December 19, on December 29.
The EIA’s subsequent weekly petroleum standing report, which is able to embrace information for the week ending December 26, is scheduled to be launched on December 31.
On its web site, the EIA states that it collects, analyzes, and disseminates impartial and neutral power data to advertise sound policymaking, environment friendly markets, and public understanding of power and its interplay with the financial system and the atmosphere. In its weekly petroleum standing report, the EIA describes itself because the impartial statistical and analytical company throughout the Division of Vitality.
To contact the writer, e-mail andreas.exarheas@rigzone.com
