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Writer's pictureAvi Shaposhnik

U.S. Oil and Petroleum - July 2023

Updated: Jul 16

U.S. crude oil refinery inputs averaged 16.5 million barrels per day, down by 107 thousand barrels per day from the previous week. Gasoline production decreased to 9.5 million barrels per day, and distillate fuel production declined to 4.8 million barrels per day.

U.S. crude oil imports averaged 6.4 million barrels per day, a decrease of 807 thousand barrels per day from the previous week. Commercial crude oil inventories decreased by 0.6 million barrels, reaching 456.8 million barrels, about 2% above the five-year average. Total motor gasoline inventories decreased by 0.8 million barrels and are about 7% below the five-year average, while distillate fuel inventories decreased by 0.2 million barrels, about 14% below the five-year average.

Over the past four weeks, total products supplied averaged 20.5 million barrels a day, up 2.2% from the same period last year. Motor gasoline product supplied averaged 9.0 million barrels a day, up 2.6%, while distillate fuel product supplied averaged 3.5 million barrels a day, down 6.8% from the same period last year. Jet fuel product supplied increased by 0.5% compared to the same four-week period last year.


The information provided in this market insight is for general informational purposes and should not be considered as financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.


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