EIA周度数据：SPR维稳，商业库存增加-20260326

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint The refinery operating rate has deviated from the high at the beginning of the year, and crude oil has maintained a relatively high inventory accumulation rate. The decrease in net exports in a single week has also increased the domestic inventory pressure. As of the week of March 20, the US SPR remained unchanged, and the inventory characteristics have not been significantly affected by the sharp reduction in Middle - East supply. Future attention should be paid to the release of SPR and the change rhythm of net exports of crude oil and petroleum products [4]. 3. Summary by Relevant Catalog EIA Weekly Data - Crude Oil Inventory: In the week of March 20, US commercial crude oil inventory increased by 6.926 million barrels, with a decrease of 730,000 barrels per day in imports and 1.576 million barrels per day in exports. The SPR remained unchanged [4]. - Product Inventory: Gasoline inventory decreased by 2.593 million barrels, and diesel inventory increased by 3.032 million barrels. Jet fuel inventory decreased by 671,000 barrels, and fuel oil inventory increased by 210,000 barrels. The inventory of crude oil and petroleum products (excluding SPR) increased by 8.334 million barrels [4]. - Refinery Data: The refinery operating rate rose from 91.4% to 92.9%, and the crude oil processing volume increased by 366,000 barrels per day [4]. - Production and Demand: US crude oil production was 13.657 million barrels per day, and the apparent demand for refined oil was 20.004 million barrels per day. The apparent demand for gasoline was 8.924 million barrels per day, and that for diesel was 3.568 million barrels per day [4].