United States crude oil stockpiles, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 4.3 million barrels to 452.9 million barrels in the week ending May 8, the Energy Information Administration (EIA) revealed in its report on Wednesday. The country’s crude oil refinery inputs averaged 16.4 million barrels per day, up 369,000 barrels per day from the week prior. Refineries operated at 91.7% of their capacity, while gasoline production rose to an average of 9.8 million barrels per day. Imports of crude oil into the US averaged 5.9 million barrels per day, 424,000 barrels per day more than the previous week. Total commercial petroleum inventories dropped by 5.1 million barrels.
NN: This is called running out of oil!