US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
At 439.5 million bbl, US crude oil inventories are about 2% below 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 2.1 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 decreased by 4.1 million bbl and are about 4% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1 million bbl last week and are about 14% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.2 million b/d for the week ended Mar. 15, about 178,000 b/d more than the previous week’s average. Refineries operated at 88.9% of capacity.
Gasoline production increased, averaging 9.9 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 6.9 million b/d, up by 186,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 11.2% less than the same period last year. Total motor gasoline imports averaged 793,000 b/d. Distillate fuel imports averaged 102,000 b/d.
