U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 1.8 million barrels from the week ending November 28 to the week ending December 5, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report.
That report was published on December 10 and included data for the week ending December 5. The report showed that crude oil stocks, not including the SPR, stood at 425.7 million barrels on December 5, 427.5 million barrels on November 28, and 422.0 million barrels on December 6, 2024
Crude oil in the SPR stood at 411.9 million barrels on December 5, 411.7 million barrels on November 28, and 392.5 million barrels on December 6, 2024, the report revealed. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.684 billion barrels on December 5, the report showed. Total petroleum stocks were down 2.9 million barrels week on week and up 55.8 million barrels year on year, the report pointed out.
“At 425.7 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report.
“Total motor gasoline inventories increased by 6.4 million barrels from last week and are about one percent below the five-year average for this time of year. Finished gasoline and blending components inventories increased last week,” it added.
“Distillate fuel inventories increased by 2.5 million barrels last week and are about seven percent below the five-year average for this time of year. Propane/propylene inventories decreased 1.8 million barrels from last week and are about 15 percent above the five-year average for this time of year,” it continued.