Crude Oil Inventories Surge by 0.5M Barrels, Refinery Inputs Edge Lower

Crude Oil Inventories Surge by 0.5M Barrels, Refinery Inputs Edge Lower

(EIA) US crude oil inventories rose by 0.5 million barrels in the week ending January 14 to hit 413.8 million barrels.

In the week, crude refinery inputs were reported at an average of 15.5 million bpd, a decline of 120,000 from the previous week. Refineries were operating at 88.1% capacity.

Crude imports were at an average of 6.7 million bpd in the week, an increase of 0.7 million bpd from the previous week. On a four-week average, crude imports were 6.4 million bpd, up 10.8% from the prior year.

Overall, the total products supplied in the last four weeks were 21.2 million bpd, an increase of 11.9% from the previous week. 

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