FxWirePro: Key charts explaining crude oil inventories and production report of EIA

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 which has reached an all-time high. It was last week at 10.9 million barrels per day same as last four weeks.
   
• Chart 2 shows the level of U.S. distillate inventories. It has been rising lately after a rapid decline in 2017. According to the latest report, the inventory rose to 121.7 million barrels.
   
• U.S. oil imports have been declining over the past couple of year. However, it has gone up rapidly in recent times thanks to higher refinery demand. Last week, it rather declined sharply to 7.43 million barrels per day.
   
• Chart 4 shows the level of U.S. crude oil exports, which declined last week to 2.03 million barrels per day after reaching a record high of 3 million barrels per day, last month.
   
• Chart 5 shows U.S. refinery operating at 96.7 percent capacity, close to the highest level in more than a decade.
   
• Chart 6 shows the level of crude oil inventories, which has declined around 129 million barrels since its peak in April 2017. Inventories have risen last week to 405.7 million barrels.