Weekly Crude Inventory Report

In a recent update from the Energy Information Administration (EIA), the United States has witnessed a notable increase in commercial crude oil inventories. Excluding the Strategic Petroleum Reserve, stocks rose by 2.6 million barrels to 442.3 million barrels for the week ending April 4.

Inventory Levels and Refinery Operations

Current inventory levels are approximately 5% below the five-year average for this period. Meanwhile, US crude oil refinery inputs saw an average of 15.6 million barrels per day, marking a slight increase of 69,000 barrels per day from the previous week.

Production and Imports

Refineries operated at 86.7% of their capacity last week. On the production front, gasoline output experienced a decline, averaging 8.9 million barrels per day. Crude oil imports also decreased, averaging 6.2 million barrels per day, down by 277,000 barrels per day from the week before.

Overall, total commercial petroleum inventories saw an increase of 1.2 million barrels last week, signaling shifts in the energy market dynamics.