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 at 12.2 million barrels per day last week, down from a record 12.4 million barrels per day in May.  
   
• Chart 2 shows the level of U.S. distillate inventories. According to the latest report, the inventory declined last week to 127.8 million barrels.
   
• U.S. oil imports have been declining over the past couple of year. Last week, it declined to 7.47 million barrels per day.
   
• 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 earlier this year. Last week, it was 3.4 million barrels per day.
   
• Chart 5 shows U.S. refinery operating at 93.9 percent. Refinery intake has taken a sharp dive from 97 percent in January but up from 85.9 percent in mid-February.
   
• Chart 6 shows the level of crude oil inventories, which has declined to around 65 million barrels since its peak in April 2017. Inventories declined last week to 482.4 million barrels.