US crude oil inventories for the week ended Mar. 8, excluding the Strategic Petroleum Reserve, decreased 3.9 million bbl from the previous week, data from the US Energy Information Administration showed.
At 449.1 million bbl, US crude oil inventories are about 2% 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 2.6 million bbl for the week.
EIA said total motor gasoline inventories decreased by 4.6 million bbl and are about 2% above the 5-year range. Finished gasoline inventories and blending components inventories both decreased last week. Distillate fuel inventories increased by 400,000 bbl and are about 1% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.2 million bbl last week and are about 11% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16 million b/d for the week ended Mar. 8, about 30,000 b/d more than the previous week’s average. Refineries operated at 87.6% of capacity.
Gasoline production decreased, averaging 9.7 million b/d. Distillate fuel production decreased, averaging 4.9 million b/d.
US crude oil imports averaged 6.7 million b/d, down by 255,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 million b/d, 9% less than the same period last year. Total motor gasoline imports averaged 573,000 b/d. Distillate fuel imports averaged 238,000 b/d.
