U.S. crude oil inventories for the week ended March 22 (excluding the Strategic Petroleum Reserve), increased by 2.8 million barrels (Mmbbl) from the previous week, according to Energy Information Administration data.
At 442.3 Mmbbl, U.S. crude oil inventories are roughly 2% below the five-year average for early spring, the report showed.
Trade group the American Petroleum Institute said its weekly crude oil survey showed U.S. crude inventories rose by 1.9 Mmbbl for the same survey week, Kallanish Energy learns.
| Week ended | Stored crude volume |
| Feb. 22 | 445.94 million barrels (Mmbbl) |
| March 1 | 452.93 Mmbbl |
| March 8 | 449.07 Mmbbl |
| March 15 | 439.48 Mmbbl |
| March 22 | 442.28 Mmbbl |
Source: EIA
U.S. refinery inputs averaged 15.8 Mmbpd for the week ended March 22, roughly 367,000 Bpd less than the previous week’s average. Refineries operated at 86.6% of capacity.
Gasoline production decreased, averaging 9.7 Mmbpd, while distillate fuel production increased, averaging 4.9 Mmbpd, EIA found.
U.S. crude oil imports last week averaged 6.5 Mmbpd, down 392,000 Bpd from the previous week. Over the last four weeks, crude oil imports averaged 6.8 Mmbpd, 11.7% less than the same period last year.
Total motor gasoline imports averaged 688,000 Bpd, and distillate fuel imports averaged 195,000 Bpd.
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