Crude oil stocks, not including the SPR, stood at 443.1 million barrels on April 18, according to the U.S. Energy Information Administration.
Total petroleum inventories, encompassing crude oil, motor gasoline, fuel ethanol, jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils, totaled 1.605 billion barrels on April 18. These stocks decreased by 0.3 million barrels week-on-week but increased by 5.9 million barrels year-on-year. The EIA noted: “At 443.1 million barrels, U.S. crude oil inventories are about five percent below the five year average for this time of year.”
Motor gasoline inventories fell by 4.5 million barrels week-on-week and were approximately three percent below the five-year average. The EIA stated: “Finished gasoline inventories increased and blending components inventories decreased last week.” Distillate fuel inventories dropped by 2.4 million barrels, sitting 13 percent below the five-year average, while propane/propylene inventories grew by 2.3 million barrels but remained seven percent below the seasonal norm.
Refinery operations saw crude oil inputs averaging 15.9 million barrels per day for the week ending April 18, up 326,000 barrels per day from the prior week. The EIA reported: “Refineries operated at 88.1 percent of their operable capacity last week.” Gasoline production rose to 10.1 million barrels per day, while distillate fuel production declined to 4.6 million barrels per day.
Crude oil imports averaged 5.6 million barrels per day, down 412,000 barrels per day from the previous week. The EIA added: “Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 6.8 percent less than the same four-week period last year.” Motor gasoline imports averaged 858,000 barrels per day, and distillate fuel imports averaged 97,000 barrels per day.
Total products supplied over the last four weeks averaged 19.9 million barrels per day, a 0.4 percent increase from the same period in 2024. The EIA noted: “Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 12.8 percent from the same period last year. Jet fuel product supplied was up 13.8 percent compared with the same four-week period last year.” Ole R. Hvalbye, a commodities analyst at Skandinaviska Enskilda Banken AB, highlighted: “U.S. refinery activity picked up in the week ending April 18, with crude inputs rising by 326,000 barrels per day to a total of 15.9 million.”
