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 reached a new record high of 12.1 million barrels per day.
   
• Chart 2 shows the level of U.S. distillate inventories. According to the latest report, the inventory declined last week rose to 138.4 million barrels.
   
• U.S. oil imports have been declining over the past couple of year. Last week, it declined to a new low of 5.92 million barrels per day, largely due to lower refinery demand.
   
• 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 last to last week. Last week, it marginally declined to 3.36 million barrels per day.
   
• Chart 5 shows U.S. refinery operating at 87.1 percent. Refinery intake has taken a sharp dive from 97 percent in January.
   
• Chart 6 shows the level of crude oil inventories, which has declined around 106 million barrels since its peak in April 2017. Inventories declined last week to 445.9 million barrels.