U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.7 million barrels from the previous week. At 507.8 million barrels, U.S. crude oil inventories are about 15% above the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as of August 21, 2020.
Summary of weekly petroleum data for the week ending August 21, 2020
U.S. crude oil refinery inputs averaged 14.7 million barrels per day during the week ending August 21, 2020, which was 225,000 thousand barrels per day more than the previous week’s average. Refineries operated at 82.0% of their operable capacity last week.