EIA: US crude oil stocks increased by 3.5 million barrels

US Crude Oil Stockpiles Increase

According to the latest data from the Energy Information Administration (EIA), commercial crude oil stocks in the United States—excluding the Strategic Petroleum Reserve—rose by 3.5 million barrels, reaching a total of 439.3 million barrels for the week ending February 27.

During the same period, US refineries processed an average of 15.8 million barrels of crude oil per day, which is an increase of 180,000 barrels per day compared to the previous week. Refineries were running at 89.2% of their total capacity. Meanwhile, gasoline output climbed to an average of 9.3 million barrels per day. Crude oil imports into the country averaged 6.3 million barrels per day.