US Crude Oil Inventory Update

In a recent report by the US Energy Information Administration, it was revealed that crude oil stockpiles in the United States saw an increase of 4.1 million barrels, reaching a total of 427.9 million barrels for the week ending February 7.

Refinery Operations and Production

Refinery operations also showed signs of growth, with inputs averaging 15.4 million barrels per day, an increase of 82,000 barrels per day from the previous week. Operating at 85.0% of their capacity, refineries boosted gasoline production to an average of 9.3 million barrels per day.

Crude Oil Imports and Commercial Inventories

Meanwhile, crude oil imports into the US averaged 6.3 million barrels per day, marking a decrease of 606,000 barrels per day compared to the week before. Additionally, total commercial petroleum inventories experienced a rise of 1.2 million barrels.