EIA: U.S. refinery utilization at 92.8%; crude stocks fall 1.9 million barrels

EIA’s October 28 report covers the week ending October 23. U.S. refinery crude inputs averaged 16.5 million barrels per day, down 123,000 b/d from the previous week, with utilization at 92.8%. These figures describe operations rather than equipment purchasing plans.

Commercial crude stocks excluding the Strategic Petroleum Reserve fell 1.9 million barrels to 410.6 million barrels, about 4% below the seasonal five-year average. Gasoline stocks rose 3.9 million barrels, while distillate stocks fell 1.5 million; they were about 2% and 10% below their respective averages.

Crude imports averaged 6.4 million b/d, up 616,000 b/d week on week. The four-week import average was 6.3 million b/d, 9.3% above a year earlier. Weekly gasoline production averaged 9.2 million b/d and distillate production declined to 5.2 million b/d.

Four-week product supplied averaged 20.8 million b/d, up 0.2% year on year. Gasoline supplied fell 0.7% and distillate supplied fell 0.6% on the same basis. Weekly estimates and moving averages are market indicators, not price forecasts or quotations for finished valves.