US crude oil inventories for the week ended Jan. 11, excluding the Strategic Petroleum Reserve, decreased by 2.7 million bbl from the previous week, data from the US Energy Information Administration showed.
At 437.1 million bbl, US crude oil inventories are about 8% above the 5-year average for this time of year, the report indicated.
EIA said total motor gasoline inventories increased by 7.5 million bbl and are about 6% above the 5-year range. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories increased by 3 million bbl and are about 3% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.2 million bbl last week and are about 1% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 17.2 million b/d for the week ended Jan. 11, about 343,000 b/d less than the previous week’s average. Refineries operated at 94.6% of capacity.
Gasoline production increased, averaging 9.6 million b/d. Distillate fuel production decreased, averaging 5.4 million b/d.
US crude oil imports averaged 7.5 million b/d, down by 319,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.6 million b/d, about 3.6% less than the same period last year. Total motor gasoline imports averaged 377,000 b/d. Distillate fuel imports averaged 378,000 b/d.