EIA Weekly Petroleum Report - June 4

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Summary of Weekly Petroleum Data for the week ending May 30, 2025

U.S. crude oil refinery inputs averaged 17 million barrels per day during the week ending May 30, 2025, which was 670 thousand barrels per day more than the previous week’s average.
Refineries operated at 93.4% of their operable capacity last week. < Refiners are the "Consumers of Crude Oil". Each June they need to ramp up to over 95% of capacity to meet the surge in transportation fuel demand that ALWAYS HAPPENS this time of year.
Gasoline production decreased last week, averaging 9 million barrels per day.
Distillate fuel production increased by 183 thousand barrels per day last week, averaging 5 million barrels per day.

U.S. crude oil imports averaged 6.3 million barrels per day last week, decreased by 5 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 9.6% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 845 thousand barrels per day, and distillate fuel imports averaged 166 thousand barrels per day. < So, with crude oil demand going up, imports of oil down year-over-year and very soon U.S. oil production going on decline, U.S. crude oil inventories should be declining all summer.

Inventories are ALL BELOW NORMAL FOR THIS TIME OF YEAR
> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.3 million barrels from the previous week. At 436.1 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year.
> Total motor gasoline inventories increased by 5.2 million barrels from last week and are about 1% below the five year average for this time of year. Both finished gasoline inventories and blending components inventories increased last week.
> Distillate fuel inventories increased by 4.2 million barrels last week and are about 16% below the five year average for this time of year.
> Propane/propylene inventories increased by 6.8 million barrels from last week and are 2% above the five year average for this time of year.
>> Total commercial petroleum inventories increased by 12.9 million barrels last week. < Keep in mind that this does not include the gasoline and diesel inventories at the more than 400,000 retail filling stations in the U.S.

Total products supplied over the last four-week period averaged 19.8 million barrels a day, down by 0.9% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 3.1% from the same period last year.
Distillate fuel product supplied averaged 3.6 million barrels a day over the past four weeks, down by 4.3% from the same period last year.
Jet fuel product supplied was down 2.2 % compared with the same four-week period last year.