EIA: U.S. crude oil inventories rose by 2.969 million barrels last week, versus an estimate of a 641,000-barrel decline

en.Wedoany.com Reported - On September 23, the U.S. Energy Information Administration (EIA) released petroleum inventory data for the week ending September 18. U.S. commercial crude oil inventories rose by 2.969 million barrels week-on-week to 426.4 million barrels, compared with market expectations of a 641,000-barrel decline; gasoline inventories fell by 1.686 million barrels to 206.0 million barrels, versus market expectations of an increase of about 93,000 barrels. Crude oil inventories in Cushing, Oklahoma, rose by 2.266 million barrels over the same period to 23.748 million barrels.

On the refining side, U.S. refinery crude oil throughput fell by 519,000 barrels per day from the previous week, and capacity utilization dropped from 96.8% to 94%, a decrease of 2.8 percentage points. EIA data showed that refinery crude oil inputs were about 16.811 million barrels per day in the week ending September 18.

Over the same period, U.S. distillate inventories fell by 428,000 barrels to 107.4 million barrels, versus market expectations of a 633,000-barrel decline. Apparent gasoline demand rose from about 8.798 million barrels per day the previous week to 8.847 million barrels per day, while apparent distillate demand rose from 3.501 million barrels per day to 3.975 million barrels per day

On the import and export side, EIA data showed that U.S. net crude oil imports rose by 369,000 barrels per day from the previous week to 2.596 million barrels per day; over the same period, total crude oil imports fell from 7.058 million barrels per day to 5.877 million barrels per day, and crude oil exports fell from 4.831 million barrels per day to 3.281 million barrels per day. This should be expressed as "net crude oil imports rose by 369,000 barrels per day," rather than "crude oil imports rose."