For the week ending Feb. 3rd, crude stocks increased by 304 thousand barrels from the previous week to 339.3 million barrels or 23.1 days of refinery demand. You can see from the graph on the right that this is in the upper limit of the range for this time year.
U.S. field production increased by 43 mb/d to 5,763 mb/d. Refiners operated at 82.8% of capacity, an increase of 1% since the prior week, as total crude inputs increased by 180 mb/d and operable capacity decreased by 6 mb/d.
Gasoline Supplied
Motor gasoline supplied continues to remain at depressed levels at approximately 8 million barrels per day. The most recent 4 week rolling period is down 6.8% YoY.
Total U.S working rigs declined by 8 from the prior week to 1989. Gas rigs dropped by 25 while oil rigs increased by 18. Directional rigs declined by 2 and horizontal and vertical rigs declined by 3 each.
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