Crude oil stockpiles in the United States went down by 600,000 to come in at 456.8 million barrels in the week ending July 21
The Energy Information Administration (EIA) reported published on Wednesday. Crude oil refinery inputs averaged 16.5 million barrels per day (bpd), declining by 107,000 bpd compared to the past week’s average. Refineries operated at 93.4% of their capacity. Meanwhile, gasoline production reduced week-on-week and averaged 9.5 million bpd. Crude oil imports dropped by 807,000 bpd compared to the previous week and averaged 6.4 million bpd. Additionally, total commercial petroleum inventories declined by 0.5 million barrels. Gasoline stocks shed 800,000 barrels in the week to July 21, which compared with an inventory draw of 1.1 million barrels for the previous week. This compared with inventory decline of 700,000 barrels for the previous week that kept inventories slightly above the five-year seasonal average. Gasoline production averaged 9.5 million barrels daily last week, a small decline on a week earlier. In middle distillates, the authority estimated an inventory draw of 200,000 barrels, which compared with a slight increase for the previous week, too small for the EIA to put a number on. Middle distillate production averaged 4.8 million barrels daily last week, which compared with 5 million barrels daily during the previous week.