Crude Oil Update

Crude Oil Inventories

Crude Oil Stocks (excluding SPR) increased by 1.34 million barrels since the prior week of Nov. 25. The graph above shows crude oil inventories by month over the last few years.

Crude Oil Refinery Inputs 

Crude Oil refinery inputs increased by 682,000 barrels since the prior week, and by 344,000 since the same time last year.

U.S. Refinery Utilization 

U.S Capacity Utilization increased by roughly 3% to 87.7% from the prior week.

Gasoline

Motor gasoline supplied totalled 34.59 million over the past 4 weeks, down -3.4% since the same time last year and quite low compared to the last 8 years (shown above in black).

Drilling Rigs

 

U.S Oil Rigs continue to rise, with the latest count coming in at 1,132, up 52% since the same time last year.




The most recent rig counts:
Direction rigs: 217 (-0.5% YoY)
Horizontal rigs: 1,556 (20% increase YoY)
Vertical Rigs: 620 (17.2% YoY)