On Wednesday, July 23rd, the inventory report released by the US Energy Information Administration (EIA) showed that US commercial crude oil and gasoline inventories decreased last week, while distillate inventories unexpectedly increased.
Data shows that as of July 18th, commercial crude oil inventories in the United States decreased by 3.2 million barrels to 419 million barrels, following market expectations of a decrease of 1.6 million barrels.
The Strategic Petroleum Reserve (SPR) of the United States decreased by 200,000 barrels to 402.5 million barrels.
US gasoline inventories decreased by 1.7 million barrels to 231.1 million barrels, following market expectations of a decrease of 900,000 barrels.
EIA reported that crude oil inventories at the Cushing delivery center in Oklahoma increased by 455,000 barrels.
The utilization rate of refinery capacity increased by 1.6 percentage points.
The inventory of distillate oil in the United States, including diesel and heating oil, increased by 2.9 million barrels to 109.9 million barrels, following market expectations of a decrease of 1.1 million barrels.
Domestic crude oil production in the United States decreased by 102,000 barrels per day to 13.273 million barrels per day, with a four week average of 13.367 million barrels per day.
The net import volume of crude oil in the United States decreased by 740,000 barrels per day to 2.121 million barrels per day, with a four week average of 3.213 million barrels per day.
The import volume of crude oil in the United States decreased by 403,000 barrels per day to 5.976 million barrels per day, with a four week average of 6.322 million barrels per day.
US crude oil exports increased by 337,000 barrels per day to 3.855 million barrels per day, with a four week average of 3.109 million barrels per day.
The crude oil processing capacity of US refineries increased by 87,000 barrels per day to 16.936 million barrels per day, with a four week average of 16.974 million barrels per day.
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