US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, declined 1 million bbl during the week ended Jan. 28 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report. The SPR released 1.9 million bbl during the week.
At 415.1 million bbl, US crude inventories are about 9% below the 5-year average range for this time of year.
For the week ended Jan. 21, EIA reported a 2.4 million bbl gain (OGJ Online, Jan. 26, 2022).
Gasoline stockpiles rise
Total motor gasoline inventories during the week ended Jan. 28 increased 2.1 million bbl, but are 2% below the average range, EIA said. Finished gasoline inventories decreased while blending components inventories increased last week.
Distillate fuel inventories dropped 2.4 million bbl and are 19% below the average range for this time of year. Propane-propylene inventories fell 4.3 million bbl and are 12% below the 5-year average. Total commercial petroleum inventories decreased 5.8 million bbl.
US crude refinery inputs during the week averaged 15.2 million b/d, down 248,000 b/d from the previous week’s average. Refineries operated at 86.7% of their operable capacity.
Gasoline production decreased to 8.7 million b/d. Distillate fuel production decreased to 4.6 million b/d.
US crude imports averaged 7.1 million b/d, up 800,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 6.5 million b/d, an increase of 9.6% from the same 4-week period last year.
Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 433,000 b/d. Distillate fuel imports averaged 250,000 b/d last week.
Mikaila Adams | Managing Editor - News
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was named Managing Editor - News in 2019. She holds a degree from Texas Tech University.
