US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl for the week ended Oct. 18, according to data from the US Energy Information Administration. The decline was the first in 6 weeks.
At 433.2 million bbl, US crude oil inventories are at the 5-year average for this time of year, the report indicated.
Separately, in contrast, the American Petroleum Institute said its own estimates showed US crude inventories increased by 4.5 million bbl last week.
EIA said total motor gasoline inventories decreased by 3.1 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 2.7 million bbl last week and are about 12% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 500,000 bbl last week and are about 13% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.9 million b/d for the week ended Oct. 18, about 429,000 b/d more than the previous week’s average. Refineries operated at 85.2% of capacity.
Gasoline production increased, averaging 10.1 million b/d. Distillate fuel production increased, averaging 4.8 million b/d.
US crude oil imports averaged 5.9 million b/d, down by 438,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 19.5% less than the same period last year. Total motor gasoline imports averaged 697,000 b/d. Distillate fuel imports averaged 133,000 b/d.
