EIA Reports a 4.8M Barrels Decline in Crude Oil Inventories

EIA Reports a 4.8M Barrels Decline in Crude Oil Inventories

(EIA) US stockpiles of commercial crude fell by 4.8 million barrels in the week that ended February 4, to 410.4 million barrels.

Inventories of motor gasoline fell by 1.6 million barrels, while distillate fuel stockpiles declined by 0.9 million barrels. 

The decline was also reflected in crude imports which averaged 6.4 million barrels per day, 0.7 million bpd below the previous week. The crude imports averaged 6.6 million bpd in the past four weeks, 12.7% higher than the prior year.

Overall crude oil refinery inputs rose by 328,000 bpd to a higher 15.6 million bpd, with the refineries operating at 88.2% capacity.

Over the last four-week period, the total products supplied averaged 21.9 million bpd, an increase of 12.3% from the prior year. 

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