US crude oil inventories for the week ended Feb. 8, excluding the Strategic Petroleum Reserve, increased by 3.6 million bbl from the previous week, data from the US Energy Information Administration showed.
At 450.8 million bbl, US crude oil inventories are about 6% 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 by 998,000 bbl last week.
EIA said total motor gasoline inventories increased by 400,000 bbl and are about 4% above the 5-year range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 1.2 million bbl and are about 2% below the 5-year average for this time of year.
Propane-propylene inventories increased by 700,000 bbl last week and are about 11% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.8 million b/d for the week ended Feb. 8, about 865,000 b/d less than the previous week’s average. Refineries operated at 85.9% of capacity.
Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.
US crude oil imports averaged 6.2 million b/d, down by 936,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.2 million b/d, 11.2% less than the same period last year. Total motor gasoline imports averaged 457,000 b/d. Distillate fuel imports averaged 438,000 b/d.
