EIA Weekly Petroleum Report - Dec 21
Posted: Wed Dec 21, 2022 11:39 am
With no more draining of the SPR and well freeze offs this winter, we should see commercial crude oil inventories to decline for at least a few more weeks.
Summary of Weekly Petroleum Data for the week ending December 16, 2022
U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending December 16, 2022 which was 150,000 barrels per day less than the previous week’s average.
Refineries operated at 90.9% of their operable capacity last week.
Gasoline production increased last week, averaging 9.6 million barrels per day.
Distillate fuel production decreased last week, averaging 5.1 million barrels per day.
U.S. crude oil imports averaged 5.8 million barrels per day last week, decreased by 1.0 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 4.0% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 551,000 barrels per day, and distillate fuel imports averaged 188,000 barrels per day.
Focus on how low inventories are compared to the 5-year average.
> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.9 million barrels from the previous week. At 418.2 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 2.5 million barrels from last week and are about 2% below the five year average for this time of year. Both Finished gasoline and blending components inventories increased last week.
> Distillate fuel inventories decreased by 0.2 million barrels last week and are about 7% below the five year average for this time of year.
> Propane/propylene inventories decreased by 2.9 million barrels from last week and are 17% above the five year average for this time of year. < A lot of propane will be burned for space heating during the last two weeks of December.
>> Total commercial petroleum inventories decreased by 11.6 million barrels last week.
Total products supplied over the last four-week period averaged 20.1 million barrels a day, down by 4.2% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 8.4 million barrels a day, down by 7.1% from the same period last year.
Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 9.2% from the same period last year.
Jet fuel product supplied was up 9.6% compared with the same four-week period last year.
Summary of Weekly Petroleum Data for the week ending December 16, 2022
U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending December 16, 2022 which was 150,000 barrels per day less than the previous week’s average.
Refineries operated at 90.9% of their operable capacity last week.
Gasoline production increased last week, averaging 9.6 million barrels per day.
Distillate fuel production decreased last week, averaging 5.1 million barrels per day.
U.S. crude oil imports averaged 5.8 million barrels per day last week, decreased by 1.0 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 4.0% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 551,000 barrels per day, and distillate fuel imports averaged 188,000 barrels per day.
Focus on how low inventories are compared to the 5-year average.
> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.9 million barrels from the previous week. At 418.2 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 2.5 million barrels from last week and are about 2% below the five year average for this time of year. Both Finished gasoline and blending components inventories increased last week.
> Distillate fuel inventories decreased by 0.2 million barrels last week and are about 7% below the five year average for this time of year.
> Propane/propylene inventories decreased by 2.9 million barrels from last week and are 17% above the five year average for this time of year. < A lot of propane will be burned for space heating during the last two weeks of December.
>> Total commercial petroleum inventories decreased by 11.6 million barrels last week.
Total products supplied over the last four-week period averaged 20.1 million barrels a day, down by 4.2% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 8.4 million barrels a day, down by 7.1% from the same period last year.
Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 9.2% from the same period last year.
Jet fuel product supplied was up 9.6% compared with the same four-week period last year.