According to the Journal of Oil and Gas, U.S. Energy Intelligence Agency (eia) data show that U.S. crude oil stocks (excluding strategic oil reserves) fell by 3.9 million barrels in the week ending March 8 compared with the previous week.
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According to the report, U.S. crude oil stocks were 449.1 million barrels, about 2% higher than the five-year average. In addition, the American Petroleum Institute said its own estimates showed that U.S. crude oil stocks fell by 2.6 million barrels this week.
According to EIA, total U.S. automotive gasoline inventories fell by 4.6 million barrels, about 2% over five years. Last week, finished gasoline stocks and mixed parts stocks both fell. The stock of distillate oil increased by 400,000 barrels, about 1% lower than the average level in the same period of five years.
In the week ending March 8, U.S. refineries produced an average of 16 million barrels a day, about 30,000 barrels higher than the previous week’s average. The start-up rate of the refinery is 87.6%.
Gasoline production declined, averaging 9.7 million barrels a day. Distillate oil production declined, averaging 4.9 million barrels a day.
U.S. crude oil imports averaged 6.7 million barrels a day, down 255,000 barrels a day from last week. In the past four weeks, crude oil imports averaged 6.8 million barrels a day, down 9% from the same period last year. The average import of automobile gasoline is 573,000 barrels per day. Distilled fuel imports averaged 238,000 barrels per day.
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