Here are some key charts based on data from 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 which has reached a new all-time high. It rose last week to 10.62 million barrels per day last week compared to 10.59 million barrels per day in the week before.
- Chart 2 shows the level of U.S. distillate inventories. After a steady decline since 2015, the inventories have started rising again since December last year. However, according to the latest report, the inventory declined to 118.83 million barrels.
- U.S. oil imports have been declining over the past couple of year. However, Chart 3 shows that imports rose sharply last week to 8.47 million barrels per day.
- Chart 4 shows the level of U.S. crude oil exports, which declined last week to 2.148 million barrels per day after reaching a new record high in the previous week to 2.331 million barrels per day.
- Chart 5 shows U.S. refinery operating at 91.1 percent capacity.
- Chart 6 shows the level of crude oil inventories, which has declined around 97 million barrels since March 2017. Inventories have risen last week to 435.95 million barrels.
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