Commercial crude oil inventories in the United States, excluding those in the Strategic Petroleum Reserve (SPR), observed a weekly rise of 3.5 million barrels to 415.1 million barrels in the seven days ending January 24, the Energy Information Administration (EIA) revealed in its report published on Wednesday.
That week, crude oil refinery inputs averaged 15.2 million barrels per day (bpd), declining by 333,000 bpd compared to the previous seven days. Refineries operated at 83.5% of their capacity. Gasoline production went down to an average of 9.2 million bpd. On the other hand, distillate fuel production expanded and averaged 4.7 million bpd.
Crude oil imports fell by 297,000 bpd week-on-week to average 6.4 million bpd. Meanwhile, total commercial petroleum inventories dropped by 13.9 million barrels.