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Crude Inventory Increases 4.2 Million Barrels
U.S. crude oil refinery inputs averaged 14.7 million barrels per day during the week ending February 23, 2024, which was 100 thousand barrels per day more than the previous week’s average. Refineries operated at 81.5% of their operable capacity last week. Gasoline production increased last week, averaging 9.4 million barrels per day. Distillate fuel production increased last week, averaging 4.3 million barrels per day. U.S. crude oil imports averaged 6.4 million barrels per day last week, decreased by 269 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 ... (full story)
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EIA Confirms Moderate Crude Build, Products Draw
Crude oil prices went lower today, after the U.S. Energy Information Administration reported an estimated inventory increase of 4.2 million barrels for the week to February 23. This compared with a build of 3.5 million barrels for the previous week, which was accompanied by inventory declines in gasoline and middle distillates. In gasoline, the EIA estimated an inventory draw of 2.8 million barrels for the week to February 23. Production averaged 9.4 million bpd during the week. This compared with an inventory decline of 300,000 barrels for the previous week, when production stood at an average of 9 million barrels ... (full story)