The Energy Information Administration or EIA stated in latest update that the US crude oil refinery inputs averaged 17 million barrels per day during the week ending July 4, 2025, which was 98 thousand barrels per day less than the previous week’s average. Refineries operated at 94.7% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased by 59 thousand barrels per day last week, averaging 5.1 million barrels per day. US crude oil imports averaged 6 million barrels per day last week, decreased by 906 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 9.6% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 832 thousand barrels per day, and distillate fuel imports averaged 42 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.1 million barrels from the previous week.
At 426 million barrels, US crude oil inventories are about 8% below the five-year average for this time of year. Total motor gasoline inventories decreased by 2.7 million barrels from last week and are about 1% below the five-year average for this time of year. Both Finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 0.8 million barrels last week and are about 23% below the five-year average for this time of year.