U.S. OIL INVENTORIES UP 0.1 MB TO 493.1 MB

U.S. EIA -  Apr. 28, 2021  - Data for week ending Apr. 23, 2021

Summary of Weekly Petroleum Status Report      

U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending April 23, 2021 which was 253,000 barrels per day more than the previous week’s average. Refineries operated at 85.4% of their operable capacity last week. Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 4.6 million barrels per day.

U.S. crude oil imports averaged 6.6 million barrels per day last week, increased by 1.2 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.0 million barrels per day, 10.7% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.0 million barrels per day, and distillate fuel imports averaged 135,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.1 million barrels from the previous week. At 493.1 million barrels, U.S. crude oil inventories are at the five year average for this time of year. Total motor gasoline inventories increased by 0.1 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 3.3 million barrels last week and are at the five year average for this time of year. Propane/propylene inventories increased by 0.5 million barrels last week and are about 18% below the five year average for this time  of year. Total commercial petroleum inventories decreased by 1.6 million barrels last week.

Total products supplied over the last four-week period averaged 19.7 million barrels a day, up by 35.5% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels a day, up by 67.5% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, up by 24.3% from the same period last year. Jet fuel product supplied was up 89.3% compared with the same four-week period last year. 

The West Texas Intermediate crude oil price was $62.18 per barrel on April 23, 2021, $0.98 below last week’s price but $46.19 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $1.967 per gallon, $0.062 less than last week’s price but $1.350 above a year ago.  The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $1.874 per gallon, $0.020 below last week’s price but $1.197 over a year ago.

The national average retail regular gasoline price was $2.872 per gallon on April 26, 2021, $0.017 per gallon more than last week’s price and $1.099 over a year ago. The national average retail diesel fuel price was $3.124 per gallon, unchanged from last week’s level but $0.687 over a year ago.

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