EIA: US crude inventories down 10 million bbl

US crude oil inventories for the week ended Aug. 23, excluding the Strategic Petroleum Reserve, decreased by 10 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Aug. 23, excluding the Strategic Petroleum Reserve, decreased by 10 million bbl from the previous week, according to data from the US Energy Information Administration.

At 427.8 million bbl, US crude oil inventories are at 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 11.1 million bbl for the week.

EIA said total motor gasoline inventories decreased by 2.1 million and are 3% above the 5-year range for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 2.1 million bbl and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories increased by 3.7 million bbl last week and are about 14% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 17.4 million b/d for the week ended Aug. 23, about 295,000 b/d less than the previous week’s average. Refineries operated at 95.2% of capacity.

Gasoline production increased, averaging 10.7 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.

US crude oil imports averaged 5.9 million b/d, down by 1.3 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7 million b/d, 12.3% less than the same period last year. Total motor gasoline imports averaged 965,000 b/d. Distillate fuel imports averaged 125,000 b/d.

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