Crude Inventory +8.4M Barrels vs +4.3M Expected

(Updated - January 27, 2016 10:32 AM EST)

• Crude Inventory +8.38M Barrels vs +4.27M Expected
• Gasoline Inventory +3.46M Barrels vs +708K Expected

U.S. crude oil refinery inputs averaged over 15.6 million barrels per day during the week ending January 22, 2016, 551,000 barrels per day less than the previous week’s average. Refineries operated at 87.4% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased last week, averaging about 4.5 million barrels per day.

U.S. crude oil imports averaged 7.6 million barrels per day last week, down by 170,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 7.8 million barrels per day, 7.2% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 576,000 barrels per day. Distillate fuel imports averaged 186,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.4 million barrels from the previous week. At 494.9 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years. Total motor gasoline inventories increased by 3.5 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 decreased by 4.1 million barrels last week but are near the upper limit of the average range for this time of year. Propane/propylene inventories fell 6.2 million barrels last week but are well above the upper limit of the average range. Total commercial petroleum inventories decreased by 1.0 million barrels last week.

Total products supplied over the last four-week period averaged 19.5 million barrels per day, down by 1.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 8.7 million barrels per day, down by 2.5% from the same period last year. Distillate fuel product supplied averaged 3.4 million barrels per day over the last four weeks, down by 14.8% from the same period last year. Jet fuel product supplied is up 4.8% compared to the same four-week period last year.

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