top of page
  • Writer's pictureTony Zelinski

EIA's Weekly Crude Inventory Report 10-19-16

US Crude Inventory Data  9-14-16

WTI crude oil futures built onto this morning’s strong gains after the EIA confirmed a draw that was initially reported by the API last night which contradicted analyst expectations for another build. However, a surprise increase in gasoline stocks and a smaller than expected draw from distillate stocks should keep gains in check.

*Important Disclaimer: Beginning with last week’s inventory report, the EIA will no longer include crude oil lease stocks in U.S. total commercial crude oil inventory data. Crude oil lease stocks refer to oil (currently about 31 million barrels) that is stored in tanks at sites across the United States where producers are drilling on leased land. Lease stocks are not yet available for commercial use, and in many cases, operators do not count them as production until the oil is transferred off the lease.


  • Crude stock draws 5.247 million bbls.

  • Global storage continues to decline.

  • Refinery maintenance season is ending soon.

See previous crude oil reports ( here).


  • U.S. crude oil refinery inputs averaged about 15.4 million barrels per day during the week ending October 14, 2016, 182,000 barrels per day less than the previous week’s average. Refineries operated at 85.0% of their operable capacity last week. Gasoline production decreased last week, averaging 9.5 million barrels per day. Distillate fuel production increased last week, averaging 4.6 million barrels per day.

  • U.S. crude oil imports averaged 6.9 million barrels per day last week, down by 954,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 7.6 million barrels per day, 3.1% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 871,000 barrels per day. Distillate fuel imports averaged 32,000 barrels per day last week

  • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.2 million barrels from the previous week. At 468.7 million barrels, U.S. crude oil inventories are near the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 2.5 million barrels last week, and are well above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased by 1.2 million barrels last week but are above the upper limit of the average range for this time of year. Propane/propylene inventories fell 1.2 million barrels last week but are above the upper limit of the average range. Total commercial petroleum inventories decreased by 3.6 million barrels last week.

  • The WTI price was $50.35 per barrel on October 14, 2016, $0.59 above last week’s price and $3.05 over a year ago. The spot price for conventional gasoline in the New York Harbor was $1.541 per gallon, $0.068 more than last week’s price and $0.154 higher than a year ago. The spot price for No. 2 heating oil in the New York Harbor was $1.490 per gallon, $0.020 below last week’s price but $0.102 over a year ago.

Complete report ( here )

US Crude Inventory Data Report 10-5-16
bottom of page