The Energy Information Administration’s most recent weekly petroleum report shows that U.S. commercial crude oil inventories are close to the upper limit of the average range for this time of year, even after a 4.7 million barrel decrease for the week ended December 20.
Motor gasoline inventories are close to the upper section of its average but distillate fuel, and propane/propylene are in the lower limits. Commercial petroleum inventories fell last week by 12.7 million barrels. Motor gasoline imports were generally around 486,000 barrels per day.
Between December 13 and 20, U.S. oil refineries processed 302,000 barrels of crude oil more per day, on average, than the previous week. The per day average for inputs was 16.2 million barrels, and refineries were operating at 92.7 percent of operable capacity during the week.
Imports of crude oil have fallen in the last four weeks compared to the previous year. The week ended December 20 had imports of 7.5 million barrels per day, the same figure as the last four weeks.