U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), elevated by 3.6 million barrels from the week ending January 9 to the week ending January 16, the U.S. Power Data Administration (EIA) highlighted in its newest weekly petroleum standing report.
Crude oil shares, not together with the SPR, stood at 426.0 million barrels on January 16, 422.4 million barrels on January 9, and 411.7 million barrels on January 17, 2025, the EIA report, which was launched on January 22 and included knowledge for the week ending January 16, confirmed. Crude oil within the SPR stood at 414.5 million barrels on January 16, 413.7 million barrels on January 9, and 394.6 million barrels on January 17, 2025, the report revealed.
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 1.722 billion barrels on January 16, the report highlighted. Complete petroleum shares have been up 8.3 million barrels week on week and up 100.3 million barrels yr on yr, the report identified.
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“At 426.0 million barrels, U.S. crude oil inventories are about two p.c beneath the 5 yr common for this time of yr,” the EIA mentioned in its newest weekly petroleum standing report.
“Complete motor gasoline inventories elevated by 6.0 million barrels from final week and are about 5 p.c above the 5 yr common for this time of yr. Each completed gasoline and mixing elements inventories elevated final week,” it added.
“Distillate gasoline inventories elevated by 3.3 million barrels final week and are about one p.c beneath the 5 yr common for this time of yr. Propane/propylene inventories decreased 2.1 million barrels from final week and are about 39 p.c above the 5 yr common for this time of yr,” it continued.
U.S. crude oil refinery inputs averaged 16.6 million barrels per day throughout the week ending January 16, the EIA famous in its report, highlighting that this was 354,000 barrels per day lower than the earlier week’s common.
“Refineries operated at 93.3 p.c of their operable capability final week,” the EIA mentioned in its newest weekly petroleum standing report.
“Gasoline manufacturing decreased final week, averaging 8.8 million barrels per day. Distillate gasoline manufacturing decreased by 210,000 barrels per day final week, averaging 5.1 million barrels per day,” it added.
U.S. crude oil imports averaged 6.4 million barrels per day final week, based on the report, which outlined that this was a lower of 645,000 barrels per day from the earlier week.
“Over the previous 4 weeks, crude oil imports averaged about 6.2 million barrels per day, 5.3 p.c 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 elements) final week averaged 412,000 barrels per day, and distillate gasoline imports averaged 215,000 barrels per day,” it added.
Complete merchandise equipped over the past four-week interval averaged 19.9 million barrels per day, 1.5 p.c above the identical interval final yr, the EIA said in its report.
“Over the previous 4 weeks, motor gasoline product equipped averaged 8.2 million barrels per day, down by 0.6 p.c from the identical interval final yr,” it famous.
“Distillate gasoline product equipped averaged 3.5 million barrels per day over the previous 4 weeks, down by 1.1 p.c from the identical interval final yr. Jet gasoline product equipped was up 10.2 p.c in contrast with the identical four-week interval final yr,” it added.
In an oil and gasoline report despatched to Rigzone by the Macquarie crew forward of the discharge of this week’s EIA report, Macquarie strategists revealed that they have been forecasting that U.S. crude inventories can be up by 2.0 million barrels for the week ending January 16.
“This follows a 3.4 million barrel construct within the prior week, with the crude stability realizing considerably tighter relative to our expectations, alongside a big gasoline construct,” the strategists, together with Macquarie power strategist Walt Chancellor, mentioned within the Macquarie report.
The EIA’s newest weekly petroleum standing report additionally highlighted that the value for West Texas Intermediate (WTI) crude oil was $59.40 per barrel on January 16, which it identified was $0.44 greater than per week in the past and $19.16 lower than a yr in the past.
The EIA report famous that the nationwide common retail worth for normal gasoline decreased to $2.806 per gallon on January 19. It highlighted that this was $0.027 greater than final week’s worth and $0.303 lower than the year-ago worth. The nationwide common retail diesel gasoline worth elevated $0.071 to $3.530 per gallon, the EIA said in its report, outlining that this was $0.185 lower than the value one yr in the past.
Based on the AAA Gasoline Costs web site, as of January 23, the typical U.S. common gasoline worth is $2.862 per gallon and the typical U.S. diesel worth is $3.554 per gallon.
To contact the creator, e-mail andreas.exarheas@rigzone.com
