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EIA Petroleum Status Report  
Released On 1/11/2017 10:30:00 AM For wk1/6, 2017
PriorActual
Crude oil inventories (weekly change)-7.1 M barrels4.1 M barrels
Gasoline (weekly change)8.3 M barrels5.0 M barrels
Distillates (weekly change)10.1 M barrels8.4 M barrels

Highlights
Crude oil inventories rose 4.1 million barrels in the January 6 week to 483.1 million, up 7.1 percent from last year at this time. Product inventories also increased substantially, with gasoline up 5.0 million barrels to 240.5 million, which is 13.5 percent higher than last year's level at this time, while distillates rose 8.4 million barrels to 170.0 million, 2.7 percent above the level last year.

Crude oil imports increased sharply in the week, averaging 9.1 million barrels per day, up by about 1.9 million barrels per day. Imports over the last four weeks averaged over 8.2 million barrels per day, 6.2 percent more than in the same period last year.

Refineries operated at 93.6 percent of their operable capacity in the week, with gasoline production rising to an average of 9.7 million barrels per day. Distillate production remained stable at 5.3 million barrels per day.

On the demand side, total products supplied over the last four weeks averaged 19.5 million barrels per day, up 1.3 percent from the same period a year ago. Of this amount, supplied gasoline averaged 8.9 million barrels per day, up 0.7 percent from last year, while distillates supplied averaged 3.6 million barrels, up 7.5 percent.

Definition
The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.  Why Investors Care
 
[Chart]
As is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
Data Source: Haver Analytics
 
 

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