Weekly Crude Inventory Update

In a recent report by the Energy Information Administration (EIA), it was revealed that commercial crude oil inventories in the United States, excluding the Strategic Petroleum Reserve (SPR), experienced a modest increase of 500,000 barrels. This brings the total to 442.9 million barrels for the week ending April 11.

Refinery Operations and Production

Oil refinery inputs saw a slight decrease, averaging 15.6 million barrels per day (bpd), down by 64,000 bpd from the previous week. Despite this, refineries operated at 86.3% of their capacity. On a brighter note, gasoline production showed an uptick, averaging 9.4 million bpd.

Import and Inventory Trends

Crude oil imports dropped by 189,000 bpd week-on-week, settling at an average of 6 million bpd. Additionally, total commercial petroleum inventories witnessed a decrease of 2.1 million barrels last week.