US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 5 million bbl during the week ended Mar. 17 compared with the previous week’s total, according to data from the US Energy Information Administration.
At 533.1 million bbl, US crude stockpiles are at the upper limit of the average range for this time of year. EIA’s Petroleum Status Report indicated that inventories had risen in 9 straight weeks before posting a slight decline for the week ended Mar. 10 (OGJ Online, Mar. 15, 2017).
A separate estimate from the American Petroleum Institute showed a 4.5 million-bbl climb in US crude stockpiles for the week ended Mar. 17.
EIA said total motor gasoline inventories during the week fell 2.8 million bbl but are near the upper half of the average range. Finished gasoline inventories remained unchanged while blending components inventories decreased.
Distillate fuel inventories lost 1.9 million bbl but are in the upper half of the average range for this time of year. Propane-propylene inventories dropped 100,000 bbl but are in the middle of the average range. Total commercial petroleum inventories gained 1.3 million bbl.
US crude refinery inputs during the week ending Mar. 17 averaged 15.8 million b/d, up 329,000 b/d from the previous week’s average. Refineries operated at 87.4% of their operable capacity.
Both gasoline production and distillate fuel production increased to 9.8 million b/d and 4.8 million b/d, respectively.
US crude oil imports averaged 8.3 million b/d, up 902,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 7.9 million b/d, down 3% from the same 4-week period last year.
Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 325,000 b/d. Distillate fuel imports averaged 127,000 b/d last week.
