EIA - Weekly Petroleum Report - Jan 31

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Summary of Weekly Petroleum Data for the week ending August 9, 2024

U.S. crude oil refinery inputs averaged 16.5 million barrels per day during the week ending August 9, 2024, which was 65 thousand barrels per day more than the previous week’s average.
Refineries operated at 91.5% of their operable capacity last week. < Low utilization rate for this time of year.
Gasoline production decreased last week, averaging 9.7 million barrels per day.
Distillate fuel production decreased last week, averaging 4.8 million barrels per day.

U.S. crude oil imports averaged 6.3 million barrels per day last week, increased by 61 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 2.0% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 578 thousand barrels per day, and distillate fuel imports averaged 81 thousand barrels per day.

Inventories. Note that Big Three inventories are all below normal for this time of year.

> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 430.7 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. < One of our "spies" told me that the crude oil build was due to lower exports of U.S. light oil last week.

> Total motor gasoline inventories decreased by 2.9 million barrels from last week and are about 3% below the five year average for this time of year. Both finished gasoline and blending components inventories decreased last week.

> Distillate fuel inventories decreased by 1.7 million barrels last week and are about 7% below the five year average for this time of year.

> Propane/propylene inventories increased by 2.2 million barrels from last week and are 14% above the five year average for this time of year.

>> Total commercial petroleum inventories decreased by 3.1 million barrels last week.

Total products supplied over the last four-week period averaged 20.6 million barrels a day, down by 1.7% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 9.2 million barrels a day, up by 2.2% from the same period last year.
Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 2.3% from the same period last year.
Jet fuel product supplied was up 1.6% compared with the same four-week period last year.