U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 6.2 million barrels from the week ending March 6 to the week ending March 13.
That’s what the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report, which was released on March 18 and included data for the week ending March 13.
The EIA report showed that crude oil stocks, not including the SPR, stood at 449.3 million barrels on March 13, 443.1 million barrels on March 6, and 437.0 million barrels on March 14, 2025. Crude oil in the SPR stood at 415.4 million barrels on March 13 and March 6, and 395.9 million barrels on March 14, 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”.
A statement posted on the DOE website on March 13 announced that the DOE had issued a Request for Proposal (RFP) for a crude oil exchange from the SPR. This first RFP will be for 86 million barrels of crude oil, the DOE revealed.
“Under the terms of the exchange, companies will return the borrowed oil to DOE with additional barrels as a premium, strengthening the Strategic Petroleum Reserve while stabilizing markets at no cost to American taxpayers,” the DOE said in that statement.
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 13. Total petroleum stocks were up 0.4 million barrels week on week and up 86.0 million barrels year on year, the report pointed out.
“At 449.3 million barrels, U.S. crude oil inventories are about one percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report.
“Total motor gasoline inventories decreased by 5.4 million barrels from last week and are three 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 2.5 million barrels last week and are about three percent below the five year average for this time of year. Propane/propylene inventories increased by 0.8 million barrels from last week and are 57 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 13, according to the EIA report, which pointed out that this was 63,000 barrels per day more than the previous week’s average.
“Refineries operated at 91.4 percent of their operable capacity last week,” the EIA highlighted in the report.
“Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased by 75,000 barrels per day last week, averaging 4.9 million barrels per day,” it added
U.S. crude oil imports averaged 7.2 million barrels per day last week, the report noted, outlining that this was an increase of 772,000 barrels per day from the previous week.
“Over the past four weeks, crude oil imports averaged about 6.7 million barrels per day, 17.8 percent more than the same four-week period last year,” the EIA said.
“Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 447,000 barrels per day, and distillate fuel imports averaged 221,000 barrels per day,” it added.
Total products supplied over the last four-week period averaged 21.0 million barrels a day, up by 2.1 percent from the same period last year, the EIA stated in its report.
“Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 1.0 percent from the same period last year,” it added.
“Distillate fuel product supplied averaged 4.0 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 down 2.1 percent compared with the same four-week period last year,” the EIA went on to state.
To contact the author, email andreas.exarheas@rigzone.com
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