Here are some key charts based on data from the United States’ Energy Information Agency’s (EIA) latest report that explains the level of inventories, refinery demand, and production.
- Chart 1 shows crude oil production in the United States at 12 million barrels per day last week, down from a record 12.4 million barrels per day in May.
- Chart 2 shows the level of U.S. distillate inventories. According to the latest report, the inventory rose last week to 136.2 million barrels.
- U.S. oil imports have been declining over the past couple of year. Last week, it declined to 6.8 million barrels per day.
- Chart 4 shows the level of U.S. crude oil exports, which rose to a new record high of 3.61 million barrels per day earlier this year. Last week, it was 2.53 million barrels per day.
- Chart 5 shows U.S. refinery operating at 94.4 percent. Refinery intake is still lower than 97 percent in January but up from 85.9 percent in mid-February.
- Chart 6 shows the level of crude oil inventories, which is down about 93 million barrels since its peak in April 2017. Inventories declined last week to 455 million barrels.