For friends who are concerned about the United States, it must be very concerned about the situation in recent months. There are Xiaobian to analyze it for you, so as to facilitate readers to make a better choice after.
U.S. commercial inventories rose 5.836 million barrels to 410.84 million barrels in the week ended July 13, below the same period last year and below the five-year average, data from the U.S. Information Administration showed on Wednesday.
Crude inventories in the Cushing region fell by 860,000 barrels to 24.858 million barrels.
Inventories fell 3.165 million barrels to 235.832 million barrels.
Distillate inventories fell 371,000 barrels to 1213.11 million barrels.
Total U.S. oil product demand for the week was 21.3302 million b/d, up 1.394 million b/d from the previous week, higher than the same week last year and above the five-year average.
Gasoline demand rose 433,000 b/d from the previous week to 9.708 million b/d, above year-ago levels and above the five-year average for this time of year.
Distillate demand rose 336,000 b/d to 4.141 million b/d, below year-ago levels and above the five-year average for this time of year.
In the week, the U.S. rose by 100,000 barrels to 11 million barrels a day.
U.S. crude imports were 9.066 million b/d, up 1.635 million b/d from the previous week, while exports were 1.461 million b/d, down 566 million b/d from the previous week.
For the week, U.S. refineries operated at 94.3 percent, down 2.4 percent from the previous week. U.S. refineries processed 17.239 million b/d of crude oil, down 413,000 b/d from the previous week.
Refineries on the East Coast of the United States (PADD1) processed 1.13 million b/d, down 73,000 b/d from the previous week.
Refiners in the U.S. Midwest (PADD2) processed 3.818 million barrels per day (BPD), down 75,000 BPD from the previous week, above year-ago levels and above the five-year average.
Refineries along the U.S. Mexican coast (PADD3) processed 9.053 million barrels a day, down 262,000 barrels a day from the previous week.
Crude oil processing at the U.S. Rocky Mountain refinery rose by 2,000 b/d to 650,000 b/d.
Refineries on the US West Coast (PADD5) processed 2.589 million b/d, down 3,000 b/d from the previous week.
U.S. crude production rose by 100,000 barrels a day to 11 million barrels a day, rising again after four straight weeks of flat output.
A return to prosperity in the US is the main factor behind the rising production, with all seven major shale plays increasing production this month and the number of active RIGS in the country remaining high, which is expected to increase further in the future.
Refinery operations fell 2.4 per cent to 94.3 per cent for the week, reflecting a decline in US crude oil processing, with the largest decline occurring in the Mexican coastal region (PADD5), where crude oil processing fell by about 262,000 b/d.
Hurricane activity in the Atlantic (600558) is increasing into August, which may affect the normal production of refineries and offshore oil fields in the US coastal areas.
U.S. commercial crude stockpiles rose by 5.836 million barrels to 410.84 million barrels in the week, largely due to higher crude production and a sharp drop in exports.
Total U.S. oil demand for the week was 21.302 million b/d, up 1.394 million b/d from the previous week, with both gasoline and distillates Posting gains.
Both gasoline and distillate stocks fell amid rising demand.
The US crude oil export decreased by 566,000 b/d to 1.461 million b/d in the same week. The decline of US crude oil export was mainly affected by the trade friction between China and the US. China took the initiative to reduce the import of crude oil from the US.
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