U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) increased by 3.8 million barrels from the week ending February 27 to the week ending March 6, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report.
The EIA report showed that crude oil stocks, not including the SPR, stood at 443.1 million barrels on March 6, 439.3 million barrels of February 27, and 435.2 million barrels on March 7, 2025. Crude oil in the SPR stood at 415.4 million barrels on March 6 and February 27, and 395.6 million barrels on March 7, 2025, the report showed.
In a statement posted on the U.S. Department of Energy (DOE) website on March 11, U.S. Secretary of Energy Chris Wright announced that U.S. President Donald Trump had authorized the DOE to release 172 million barrels from the Strategic Petroleum Reserve, “beginning next week”.
“This will take approximately 120 days to deliver based on planned discharge rates,” Wright said in the statement.
“The United States has arranged to more than replace these strategic reserves with approximately 200 million barrels within the next year,” Wright added.
The EIA’s latest weekly petroleum status report showed that 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 1.682 billion barrels on March 6. Total petroleum stocks were down 2.0 million barrels week on week and up 87.5 million barrels year on year, the report pointed out.
“At 443.1 million barrels, U.S. crude oil inventories are about two percent below the five year average for this time of year,” the EIA said in its report.
“Total motor gasoline inventories decreased by 3.7 million barrels from last week and are five percent above the five year average for this time of year. Both finished gasoline and blending components inventories decreased last week,” it added.
“Distillate fuel inventories decreased by 1.3 million barrels last week and are about two percent below the five year average for this time of year. Propane/propylene inventories decreased by 1.7 million barrels from last week and are 53 percent above the five year average for this time of year,” it continued.
U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending March 6, according to the EIA report, which outlined that this was 328,000 barrels per day more than the previous week’s average.
“Refineries operated at 90.8 percent of their operable capacity last week,” the EIA said.
“Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased by 131,000 barrels per day last week, averaging 4.9 million barrels per day,” it added.
U.S. crude oil imports averaged 6.4 million barrels per day last week, the EIA noted in its report. It pointed out that this was an increase of 98,000 barrels per day from the previous week.
“Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 12.6 percent more than the same four-week period last year,” the EIA said in its report.
“Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 542,000 barrels per day, and distillate fuel imports averaged 179,000 barrels per day,” it added.
Total products supplied over the last four-week period averaged 21.0 million barrels a day, up by 1.9 percent from the same period last year, the EIA stated in the report.
“Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, up by 0.8 percent from the same period last year,” the EIA added.
“Distillate fuel product supplied averaged 4.1 million barrels a day over the past four weeks, up by 0.4 percent from the same period last year. Jet fuel product supplied was up 7.3 percent compared with the same four-week period last year,” it continued.
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