US crude oil inventories, excluding the Strategic Petroleum Reserve, declined by 1.4 million bbl for the week ended Aug. 3, according to data from the US Energy Information Administration.
At 407.4 million bbl, US crude oil inventories are about 1% below the 5-year average for this time of year, the Weekly Petroleum Status Report indicated.
The report said total motor gasoline inventories increased by 2.9 million bbl and are about 4% above the 5-year range. Finished gasoline inventories increased while blending components inventories both increased last week. Distillate fuel inventories increased by 1.2 million bbl last week and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories increased by 100,000 bbl last week and are 13% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 17.6 million b/d for the week ended Aug. 3, about 118,000 b/d more than the previous week’s average. Refineries operated at 96.6% of capacity.
Gasoline production decreased, averaging 9.9 million b/d. Distillate fuel production increased, averaging 5.2 million b/d.
US crude oil imports averaged 7.9 million b/d, up by 182,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 8.1 million b/d, 1.4% more than the same period last year. Total motor gasoline imports averaged 935,000 b/d. Distillate fuel imports averaged 169,000 b/d.
