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US crude inventory data shows decline of 3.7 mln barrels

06 April 2023 09:33 (UTC +04:00)

U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending March 31, 2023 which was 198 thousand barrels per day less than the previous week’s average, APA-Economics reports citing Investing.com

Refineries operated at 89.6% of their operable capacity last week. Gasoline production decreased last week, averaging 9.9 million barrels per day. Distillate fuel production increased last week, averaging 4.7 million barrels per day.

U.S. crude oil imports averaged 7.1 million barrels per day last week, increased by 1.8 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 2.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 713,000 barrels per day, and distillate fuel imports averaged 115,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.7 million barrels from the previous week. At 470.0 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of year. Total motor gasoline inventories decreased by 4.1 million barrels from last week and are about 7% below the five year average for this time of year.