Crude Inventory +2.15M Barrels vs +2.9M Expected

(Updated - February 18, 2016 11:02 AM EST)

• Crude Inventory +2.15M Barrels vs +2.9M Expected
• Gasoline inventory +3.04M Barrels vs +64K Expected

U.S. crude oil refinery inputs averaged over 15.8 million barrels per day during the week ending February 12, 2016, 338,000 barrels per day more than the previous week’s average. Refineries operated at 88.3% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production increased last week, averaging about 4.7 million barrels per day.

U.S. crude oil imports averaged over 7.9 million barrels per day last week, up by 795,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.7 million barrels per day, 5.8% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 565,000 barrels per day. Distillate fuel imports averaged 232,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.1 million barrels from the previous week. At 504.1 million barrels, U.S. crude oil inventories are at historically high levels for this time of year. Total motor gasoline inventories increased by 3.0 million barrels last week, and are well above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 1.4 million barrels last week and are above the upper limit of the average range for this time of year. Propane/propylene inventories fell 4.3 million barrels last week but are well above the upper limit of the average range. Total commercial petroleum inventories increased by 3.4 million barrels last week.

Total products supplied over the last four-week period averaged about 19.8 million barrels per day, down by 0.2% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 8.9 million barrels per day, up by 3.0% from the same period last year. Distillate fuel product supplied averaged over 3.5 million barrels per day over the last four weeks, down by 15.6% from the same period last year. Jet fuel product supplied is up 11.0% compared to the same four-week period last year.

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