EIA Weekly Petroleum Report - May 24

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dan_s
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EIA Weekly Petroleum Report - May 24

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Summary of Weekly Petroleum Data for the week ending May 19, 2023

U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending May 19, 2023, which was 79 thousand barrels per day more than the previous week’s average.
Refineries operated at 91.7% of their operable capacity last week. < Refiners need to ramp up to over 95% ASAP.
Gasoline production increased last week, averaging 10.3 million barrels per day.
Distillate fuel production increased last week, averaging 4.9 million barrels per day.

U.S. crude oil imports averaged 5.9 million barrels per day last week, decreased by 1,010 thousand barrels per day from the previous week.
Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 3.9% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 763,000 barrels per day, and distillate fuel imports averaged 156,000 barrels per day.

> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 12.5 million barrels from the previous week. At 455.2 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year.
> Total motor gasoline inventories decreased by 2.1 million barrels from last week and are about 8% below the five year average for this time of year. Finished gasoline inventories increased, while blending components inventories decreased last week.
> Distillate fuel inventories decreased by 0.6 million barrels last week and are about 18% below the five year average for this time of year.
> Propane/propylene inventories increased 3.1 million barrels from last week and are 32% abovethe five year average for this time of year.
>> Total commercial petroleum inventories decreased by 10.8 million barrels last week.


Total products supplied over the last four-week period averaged 20.1 million barrels a day, up by 2.8% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 9.1 million barrels a day, up by 2.5% from the same period last year.
Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, up by 2.8% from the same period last year.
Jet fuel product supplied was up 3.7% compared with the same four week period last year.
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We are heading into the highest period of demand for transportation fuels and all of our inventories are too low, unless your car runs on propane.
Dan Steffens
Energy Prospectus Group
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