Crude oil inventories rose 0.9 million barrels in the March 24 week to 534.0 million, up 6.0 percent from last year at this time. But product inventories declined again and more substantially, with gasoline down 3.7 million barrels to 239.7 million, 1.2 percent below the year ago level, and distillates down 2.5 million barrels to 152.9 million, for a year-on-year decrease of 5.1 percent.
Crude oil imports averaged 8.2 million barrels per day, down by 83,000 barrels per day from the prior week. Over the last 4 weeks, imports averaged over 8.0 million barrels per day, 0.7 percent more than in the same period last year.
Refineries operated at 89.3 percent of their operable capacity, up 1.9 percentage points from the previous week. Production also increased, averaging over 10.0 million barrels per day for gasoline and 4.9 million barrels per day for distillates.
On the demand side, total products supplied over the last 4 weeks averaged 19.6 million barrels per day, up 0.7 percent from the same period last year. Of this amount, supplied gasoline averaged 9.3 million barrels per day, down 1.0 percent from last year, while distillate fuel supplied averaged 4.2 million barrels, up a sharp 13.1 percent year-on-year. A strong year-on-year gain was also registered for supplied jet fuel, which was up 12.1 percent.