US crude oil inventories for the week ended May 10, excluding the Strategic Petroleum Reserve, increased by 5.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 472 million bbl, US crude oil inventories are 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 increased by 8.6 million bbl for the week.
EIA said total motor gasoline inventories decreased by 1.1 million bbl and are 2% below the 5-year range for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 100,000 bbl and are about 4% below the 5-year average for this time of year.
Propane-propylene inventories increased by 2.8 million bbl last week and are about 19% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.7 million b/d for the week ended May 10, about 271,000 b/d more than the previous week’s average. Refineries operated at 90.5% of capacity.
Gasoline production decreased, averaging 9.9 million b/d. Distillate fuel production increased, averaging 5.3 million b/d.
US crude oil imports averaged 7.6 million b/d, up by 919,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.2 million b/d, 9.6% less than the same period last year. Total motor gasoline imports averaged 752,000 b/d. Distillate fuel imports averaged 41,000 b/d.
