GulfSlope Energy Inc (GSPE)

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Commercial Oil inventories decreased by 8 million barrels, the Strategic Petroleum Reserve (SPR) decreased by 4.7 million barrels - EIA Weekly Petroleum Status Report, Release Date: April 20, 2022

Full Report with Graphs:https://www.eia.gov/petroleum/supply/weekly/pdf/wpsrall.pdf

WTI $103.37/bbl-May Contract,13:08 pm CDT 4/20/2022:https://oilprice.com/oil-price-charts/#WTI-Crude

WTI $102.54/bbl - Wholesale Spot Petroleum Prices, 4/19/22 Close

Summary of Weekly Petroleum Data for the week ending 4/15/2022

HIGHLIGHTS:

U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending April 15, 2022 which was 194,000 barrels per day more than the previous week’s average. Refineries operated at 91.0% of their operable capacity last week. Gasoline production increased last week, averaging 9.8 million barrels per day. Distillate fuel production increased last week, averaging 4.8 million barrels per day.

U.S. crude oil imports averaged 5.8 million barrels per day last week, down by 159,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 3.1% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 597,000 barrels per day, and distillate fuel imports averaged 104,000 barrels per day.

The Strategic Petroleum Reserve (SPR) including non-U.S. stocks held under foreign or commercial storage agreements decreased by 4.7 million barrels from the previous week currently at 556 million barrels.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.0 million barrels from the previous week. At 413.7 million barrels, U.S. crude oil inventories are about 15% below the five year average for this time of year. Total motor gasoline inventories decreased by 0.8 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week.

Distillate fuel inventories decreased by 2.7 million barrels last week and are about 20% below the five year average for this time of year. Propane/propylene inventories increased by 1.6 million barrels last week and are about 16% below the five year average for this time of year. Total commercial petroleum inventories decreased by 8.1 million barrels last week.

Total products supplied over the last four-week period averaged 19.4 million barrels a day, down by 1.5% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 3.0% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 6.4% from the same period last year. Jet fuel product supplied was up 15.7% compared with the same four-week period last year.

The West Texas Intermediate crude oil price and the product spot prices were not available due to the market closure on Friday.

The national average retail regular gasoline price decreased to $4.066 per gallon on April 18, 2022, $0.025 below last week’s price but $1.211 over a year ago. The national average retail diesel fuel price increased to $5.101 per gallon, $0.028 per gallon more than last week’s price and $1.977 higher than a year ago.