US crude oil refinery inputs increase for third consecutive week

Oil

US crude oil refinery inputs grew by 320K b/d w-o-w to 13.3M b/d during the week ending 29 May, marking the third week in a row this figure has increased, according to the US Energy Information Administration (EIA). Refineries operated at 71.8% of their capacity, up 0.5% w-o-w. Commercial crude stocks dropped 2.1M bbls w-o-w to 532.3M bbls, while still remaining around 12% higher than the five-year average for this time of year. Crude oil imports fell by 1M b/d w-o-w to 6.2M b/d, which is 1.7M b/d lower than the same week last year.