U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending August 5, 2022 which was 728,000 barrels per day more than the previous week’s average. Refineries operated at 94.3% of their operable capacity last week. Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, still averaging 5.1 million barrels per day. U.S. crude oil imports averaged 6.2 million barrels per day last week, decreased by 1.2 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 0.9% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 595,000 barrels per day, and distillate fuel imports averaged 204,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.5 million barrels from the previous week. At 432.0 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. Total motor gasoline inventories decreased by 5.0 million barrels last week and are about 6% below the five year average for this time of year. Finished gasoline inventories increased, but blending components inventories decreased last week. Distillate fuel inventories increased by 2.2 million barrels last week and are about 24% below the five year average for this time of year. Propane/propylene inventories increased by 2.1 million barrels last week and are about 10% below the five year average for this time of year. Total commercial petroleum inventories increased by 13.0 million barrels last week. Total products supplied over the last four-week period averaged 20.1 million barrels a day, down by 2.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels a day, down by 6.3% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 3.7% from the same period last year. Jet fuel product supplied was up 11% compared with the same four-week period last year. The West Texas Intermediate crude oil price was $91.77 per barrel on August 5, 2022, $9.54 below last week’s price but $23.51 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $3.132 per gallon, $0.259 less than last week’s price but $0.869 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $3.205 per gallon, $0.402 below last week’s price but $1.129 over a year ago. The national average retail regular gasoline price decreased to $4.038 per allon on August 8, 2022, $0.154 below last week’s price but $0.866 over a year ago. The national average retail diesel fuel price decreased to $4.993 per gallon, $0.145 per gallon less than last week’s price but $1.629 higher than a year ago.
CRUDE OIL WEEKLY UPDATE (Week Ending 08-12-22)
- Crude Oil, Natural Gas & Crude Oil Weekly Update
- Published on
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com