SunSirs: EIA: US Crude Oil Inventories Rise by 6.4 Million Barrels Last Week

On Thursday, November 13th, the US Energy Information Administration (EIA) released its inventory report showing that US crude oil inventories increased last week, while gasoline and distillate fuel inventories declined.

The EIA report showed that for the week ending November 7th, US commercial crude oil inventories increased by 6.4 million barrels to 427.58 million barrels, compared to market expectations of a 1.96 million barrel increase.

Cushing, Oklahoma crude oil inventories decreased by 346,000 barrels.

The US Strategic Petroleum Reserve (SPR) increased by 800,000 barrels to 410.4 million barrels.

For the week, US gasoline inventories decreased by 945,000 barrels to 205.1 million barrels, compared to market expectations of a 1.89 million barrel decrease.

US distillate fuel inventories, including diesel and heating oil, decreased by 637,000 barrels to 110.9 million barrels, compared to market expectations of a 2.03 million barrel decrease.

U.S. refinery crude oil processing increased by 717,000 barrels per day to 15.973 million barrels per day, compared to a four-week average of 15.545 million barrels per day.

U.S. refinery capacity utilization increased by 3.4% week-on-week to 89.4%.

U.S. domestic crude oil production increased by 211,000 barrels per day to 13.862 million barrels per day, compared to a four-week average of 13.697 million barrels per day.

U.S. net crude oil imports increased by 848,000 barrels per day to 2.406 million barrels per day, compared to a four-week average of 1.592 million barrels per day.

U.S. crude oil imports decreased by 703,000 barrels per day to 5.222 million barrels per day, compared to a four-week average of 5.529 million barrels per day.

U.S. crude oil exports decreased by 1.551 million barrels per day to 2.816 million barrels per day, compared to a four-week average of 3.937 million barrels per day.

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