Crude Oil and Gasoline Stocks Experience Mixed Changes in December

Strategic Insights -

The American Petroleum Institute (API) reported a decline in crude oil and gasoline stocks, while the Energy Information Administration (EIA) provided a less-drastic drop in crude stocks and an increase in gasoline stocks. According to weekly petroleum statistics, crude oil stocks fell by 1.9 million barrels to 336.3 million barrels, and gasoline stocks decreased by 1.3 million barrels to 211.8 million barrels. However, the EIA reported a 600,000-barrel decrease in crude stocks and a 300,000-barrel increase in gasoline stocks.

Key Takeaways:

  • Crude oil stocks dropped by 1.9 million barrels to 336.3 million barrels, according to API data.
  • Gasoline stocks decreased by 1.3 million barrels to 211.8 million barrels, as reported by API.
  • The EIA reported a 600,000-barrel decrease in crude stocks to 337.0 million barrels and a 300,000-barrel increase in gasoline stocks to 212.6 million barrels.
  • Distillates, including heating oil and diesel fuel, rose by 2,000 barrels to 144.0 million barrels, according to API data.
  • EIA reported a 300,000-barrel decrease in distillate stocks to 141.2 million barrels.
  • Crude runs to processing units increased to 13.9 million barrels from 13.8 million barrels, and capacity utilization climbed to 93.5% from 92.2% the previous week, as reported by API.
  • Residual fuel stocks rose to 43.4 million barrels from 42.9 million barrels, according to API data.
  • The EIA showed residuals rose 1.5 million to 43.7 million barrels.
  • Total petroleum stocks, excluding stocks held in the Strategic Petroleum Reserve (SPR), dropped 700,000 barrels to 1.0698 billion barrels during the week.
  • Stocks in the SPR were at 591.7 million barrels, as reported by the EIA.

Statistics:

  • Crude oil stocks decreased by 1.9 million barrels, according to API data.
  • Gasoline stocks dropped by 1.3 million barrels to 211.8 million barrels, as reported by API.
  • EIA reported a 600,000-barrel decrease in crude stocks to 337.0 million barrels.
  • Crude runs to processing units increased to 13.9 million barrels from 13.8 million barrels.
  • Capacity utilization climbed to 93.5% from 92.2% the previous week.
  • Total petroleum stocks, excluding SPR, dropped 700,000 barrels to 1.0698 billion barrels.

Sources:

  • American Petroleum Institute (API)
  • Energy Information Administration (EIA)