U.S. Crude Inventories Drop by 3.9 Mmbbl
Total U.S. crude inventories were 449.1 Mmbbl, roughly 2% above the five-year average for just days before spring, according to the report.
OILMONSTER.COM- U.S. crude oil inventories for the week ended March. 8, excluding the Strategic Petroleum Reserve, decreased 3.9 million barrels (Mmbbl) from the previous week, the Energy Information Administration reported Wednesday.
Total U.S. crude inventories were 449.1 Mmbbl, roughly 2% above the five-year average for just days before spring, according to the report.
U.S. refinery inputs averaged 16 Mmbld for the week ended March 8, roughly 30,000 Bpd more than the previous week’s average. Refineries operated at 87.6% of capacity.
Crude oil imports last week averaged 6.7 Mmbpd, down 255,000 Bpd from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 Mmbpd, 9% less than the same period last year.Gasoline production decreased, averaging 9.7 Mmbpd, while distillate fuel production also fell, averaging 4.9 Mmbpd, EIA found.
Total motor gasoline imports averaged 573,000 Bpd. Distillate fuel imports averaged 238,000 Bpd.
Courtesy: www.kallanishenergy.com
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