US Crude Oil Inputs Climb by 330,000 as Inventories Surge

US Crude Oil Inputs Climb by 330,000 as Inventories Surge

(EIA) The US reported an average of 15.7 million barrels per day of crude oil refinery inputs in the week that ended October 1, up 330,000 bpd from the previous week.

Refineries operated at 89.6% capacity, with gasoline production declining to 9.4 million bpd. Distillate fuel production rose to an average of 4.8 million bpd.

Crude oil imports rose by 483,000 bpd from the previous week to an average of 7.0 million bpd. The imports had an average of 6.5 million bpd in the last four weeks, up 22.7% from the prior year.

Total crude inventories were up by 2.3 million bpd from the previous week to 420.9 million barrels. Crude inventories is now 7% below its five-year average.

Over the last four weeks, total products supplied posted an average of 20.7 million bpd, a gain of 16.4% from the prior year. 

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