US crude oil inventories for the week ended Mar. 22, excluding the Strategic Petroleum Reserve, increased by 2.8 million bbl from the previous week, data from the US Energy Information Administration showed.
At 442.3 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 increased by 1.9 million bbl for the week.
EIA said total motor gasoline inventories decreased by 2.9 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 2.1 million bbl and are about 5% below the 5-year average for this time of year.
Propane-propylene inventories increased by 500,000 bbl last week and are about 16% 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 Mar. 22, about 367,000 b/d less than the previous week’s average. Refineries operated at 86.6% of capacity.
Gasoline production decreased, averaging 9.7 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 6.5 million b/d, down by 392,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 million b/d, 11.7% less than the same period last year. Total motor gasoline imports averaged 688,000 b/d. Distillate fuel imports averaged 195,000 b/d.
