EIA: US crude inventories up 9.3 million bbl

Oct. 17, 2019
US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 9.3 million bbl for the week ended Oct. 11, according to data from the US Energy Information Administration.

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 9.3 million bbl for the week ended Oct. 11, according to data from the US Energy Information Administration.

The Weekly Petroleum Status Report was released a day late due to a federal holiday on Oct. 14.

At 434.9 million bbl, US crude oil inventories are about 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 10.5 million bbl last week.

EIA said total motor gasoline inventories decreased by 2.6 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 3.8 million bbl last week and are about 11% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 300,000 bbl last week and are about 12% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 15.4 million b/d for the week ended Oct. 11, about 221,000 b/d less than the previous week’s average. Refineries operated at 83.1% of capacity.

Gasoline production decreased, averaging 10 million b/d. Distillate fuel production decreased, averaging 4.7 million b/d.

US crude oil imports averaged 6.3 million b/d, up by 70,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 18.2% less than the same period last year. Total motor gasoline imports averaged 651,000 b/d. Distillate fuel imports averaged 197,000 b/d.