US Crude Inventories Experience Notable Decline

In a recent update from the Energy Information Administration (EIA), it was reported that commercial crude oil inventories in the United States, excluding the Strategic Petroleum Reserve (SPR), decreased by 2.7 million barrels to 440.4 million barrels for the week ending April 25.

Refinery Operations and Gasoline Production

Oil refinery inputs saw an increase, averaging 16.1 million barrels per day (bpd), up by 189,000 bpd from the previous week. Refineries were operating at 88.6% of their operable capacity. Conversely, gasoline production experienced a slight decrease, averaging 9.5 million bpd.

Changes in Crude Oil Imports and Petroleum Inventories

Crude oil imports decreased by 90,000 bpd week-on-week, averaging 5.5 million bpd. On the other hand, total commercial petroleum inventories saw an increase of 4.2 million barrels last week.