US crude oil inventories for the week ended May 17, excluding the Strategic Petroleum Reserve, increased by 4.7 million bbl from the previous week, according to data from the US Energy Information Administration.
At 476.8 million bbl, US crude oil inventories are 4% above the 5-year average for this time of year, the report indicated.
EIA said total motor gasoline inventories increased by 3.7 million bbl and are at the 5-year range for this time of year. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories increased by 800,000 bbl and are about 4% below the 5-year average for this time of year.
Propane-propylene inventories increased by 3.1 million bbl last week and are about 22% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.6 million b/d for the week ended May 17, about 98,000 b/d less than the previous week’s average. Refineries operated at 89.9% of capacity.
Gasoline production decreased, averaging 9.9 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.
US crude oil imports averaged 6.9 million b/d, down by 669,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.2 million b/d, 9.4% less than the same period last year. Total motor gasoline imports averaged 1.35 million b/d. Distillate fuel imports averaged 102,000 b/d.
