EIA: US commercial crude inventories rose sharply as refineries trimmed run rates
The commercial crude inventories in the US rose 4.1 million barrels in the week to 27 January 2023 as refineries in the country trimmed operating rates while net imports climbed.
The commercial crude inventories in the US rose 4.1 million barrels in the week to 27 January 2023 as refineries in the country trimmed operating rates while net imports climbed. This is the sixth straight week of stock built-up, which stoke fear of softening demand.
The refineries utilization rate stood at 85.7 per cent during the week, down from 86.1 per cent the week before.
Total motor gasoline stocks increased by 2.6 million barrels.
Meanwhile, US crude imports averaged 7.3 million barrels per day last week, 1.4 million barrels increased from the previous week.