US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 1.2 million bbl for the week ended Dec. 7, according to data from the US Energy Information Administration.
At 442 million bbl, US crude oil inventories are about 7% above the 5-year average for this time of year, the report indicated.
Separately, the American Petroleum Institute said its own estimates showed US crude inventories decreased week-over-week to 437.8 million bbl.
EIA said total motor gasoline inventories increased by 2.1 million bbl and are about 3% above the 5-year range. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories decreased by 1.5 million bbl last week and are about 8% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 3.2 million bbl last week and are about 5% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 17.4 million b/d for the week ended Dec. 7, about 51,000 b/d less than the previous week’s average. Refineries operated at 95.1% of capacity.
Gasoline production increased, averaging 10.5 million b/d. Distillate fuel production decreased, averaging 5.5 million b/d.
US crude oil imports averaged 7.4 million b/d, up by 174,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.6 million b/d, 1.9% more than the same period last year. Total motor gasoline imports averaged 525,000 b/d. Distillate fuel imports averaged 144,000 b/d.
