EIA: US crude stockpiles up by 4.3 million barrels

Wednesday, 28. October 2020 15:31

Crude oil inventories in the United States increased by 4.3 million barrels to land at 492.4 million barrels in the week ending October 23, about 9% above the five-year average for this time of year, the country's Energy Information Administration's (EIA) revealed in its weekly report released on Wednesday.

In the same period, crude oil refinery inputs in the country averaged 13.4 million barrels per day, growing by 363,000 barrels per day in comparison to the previous week's average. Meanwhile, refineries operated at 74.6% of their capacity. Gasoline production rose, averaging 9.1 million barrels per day, while distillate fuel production went down to about 4.1 million barrels per day.

Crude oil imports rose by 0.5 million barrels per day from the previous week to an average of 5.7 million barrels per day. Meanwhile, crude oil imports for the period of the past four weeks declined by 13.1% on an annual basis, averaging about 5.5 million barrels per day.

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Breaking the News / JR