US crude oil inventories, excluding the Strategic Petroleum Reserve, increased 5.8 million bbl for the week ended May 18, according to US Energy Information Administration data.
The latest estimate is 438.1 million bbl, putting oil in storage in the lower half of the average range for this time of year, the Weekly Petroleum Status Report indicated.
The report said total motor gasoline inventories increased 1.9 million bbl and are in the upper half of the average range. Finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased 1 million bbl last week and are in the lower half of the average range for this time of year.
Propane-propylene inventories increased 700,000 bbl last week and are in the lower half of the average range, EIA said.
US refinery inputs averaged more than 16.6 million b/d for the week ended May 18, about 7,000 b/d less than the previous week’s average. Refineries operated at 91.8% of capacity.
Gasoline production increased, averaging more than 10 million b/d. Distillate fuel production decreased, averaging more than 4.9 million b/d.
US crude oil imports averaged 8.2 million b/d, up 558,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged more than 7.9 million b/d, about 3.5% less than the same period last year. Total motor gasoline imports averaged 1.1 million b/d. Distillate fuel imports averaged 24,000 b/d.
