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US Crude Stockpiles Falls by 4.6M Barrels

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Oil pump on background of US dollar

US commercial crude oil inventories decreased by 4.6 million barrels in the week ending December 10, 2021, compared to the prior week.

Source: EIA

CL1! Down -1.29%, USOIL down -0.03%

At 428.3 million barrels, the US stockpiles are nearly 7% below the five-year average during this time of the year.

Inventories for total motor gasoline fell by 0.7 million barrels last week and stands nearly 6% below the five-year average for this period of the year.

US crude oil refinery inputs hovered around 15.7 million barrels per day, lower than 115,000 barrels per day than the prior week’s average.

Gasoline production rose last week to stand around 10.0 million barrels per day. Meanwhile, distillate fuel production dropped last week to an average of 4.8 million barrels per day.

Total products supplied in the last four-week period increased by 12.6% from last year to an average of 21.3 million barrels per day.

The supply for jet fuel products increased by 27.3% in the four-week period compared to the same period last year.

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