EIA: US crude inventories down 4.8 million bbl

US crude oil inventories for the week ended Aug. 30, excluding the Strategic Petroleum Reserve, decreased by 4.8 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Aug. 30, excluding the Strategic Petroleum Reserve, decreased by 4.8 million bbl from the previous week, according to data from the US Energy Information Administration.

The Weekly Petroleum Status Report was released a day later than usual because of the closure of the federal government on Sept. 2.

Separately, the American Petroleum Institute said its own estimates showed US crude inventories increased by 401,000 bbl for the week.

At 423 million bbl, US crude oil inventories are at the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 2.4 million bbl and are 3% above the 5-year range for this time of year. Finished gasoline inventories remained virtually unchanged while blending component inventories decreased last week. Distillate fuel inventories decreased by 2.5 million bbl and are about 6% below the 5-year average for this time of year.

Propane-propylene inventories increased by 2.9 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. 30, about 27,000 b/d less than the previous week’s average. Refineries operated at 94.8% of capacity.

Gasoline production decreased, averaging 10.3 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.

US crude oil imports averaged 6.9 million b/d, up by 976,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.9 million b/d, 12.5% less than the same period last year. Total motor gasoline imports averaged 717,000 b/d. Distillate fuel imports averaged 126,000 b/d.

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