Weekly EIA Oil Report – January 6th

By: Miguel A. Rodriguez

11:32, 06 January 2023

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Here are the latest details from the U.S. Energy Information Administration regarding diesel fuel, heating oil, gasoline and many more, for the week ending December 30th

The EIA crude oil inventory report is now available, albeit a day late due to New Year's holiday celebrations. The U.S. crude oil refinery inputs averaged 13.8 million barrels per day, which was 2.3 million barrels per day less than the previous week’s average, with refineries working at 79.6% of their capacity. Gasoline production decreased last week, averaging 8.5 million 

barrels/day. Distillate fuel production slightly decreased, averaging 4.0 million barrels per day. 


U.S. crude oil imports averaged 5.7 million barrels per day last week, 540,000 barrels per day lower than the previous week, with imports averaging approx. 6.2 million barrels/day. 


U.S. commercial crude oil inventories increased by 1.7 million barrels from the previous week to 420.6 million barrels. Considering the figures, the inventories are about 6% below the five-year average for this time of year.  


Oil prices rose from $72.50 to $73.45, extending gains from the previous trading session and in line with expectations of increased Chinese demand and data showing reduced fuel stocks in the U,S. following the end-of-year winter storm. 


Sources: eia.gov 

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