U.S. commercial crude oil inventories fell by 1.9 million barrels to 410.6 million in the week ended October 23, the Energy Information Administration reported in its October 28 weekly release.
The crude total excludes the Strategic Petroleum Reserve and was 4% below the five-year average for the period. Gasoline stocks rose by 3.9 million barrels but remained 2% below their five-year average.
Distillate inventories, which include diesel and heating fuel, declined by 1.5 million barrels and stood 10% below the comparable five-year average. Total commercial petroleum inventories fell by 3 million barrels.
Refineries processed 16.5 million barrels of crude daily, down 123,000 barrels from the previous week, while operating at 92.8% of capacity. Crude imports increased by 616,000 barrels daily to 6.4 million.
Over four weeks, total petroleum product supplied averaged 20.8 million barrels daily, up 0.2% from a year earlier. The report describes weekly physical supply and inventory conditions; it does not establish a particular future move in fuel prices.
Sources EIA — Weekly Petroleum Status Report summary: https://ir.eia.gov/wpsr/summary.txt EIA — Release schedule: https://www.eia.gov/petroleum/supply/weekly/schedule.php