US crude oil inventories for the week ended Nov. 29, excluding the Strategic Petroleum Reserve, decreased by 4.9 million bbl from the previous week, according to data from the US Energy Information Administration.
At 447.1 million bbl, US crude oil inventories are 3% above the 5-year average for this time of year, the report indicated.
EIA said total motor gasoline inventories increased by 3.4 million bbl and are 4% above the 5-year range for this time of year. Both finished gasoline inventories and blending component inventories increased last week. Distillate fuel inventories increased by 3.1 million bbl and are about 11% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.7 million bbl last week and are about 5% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.8 million b/d for the week ended Nov. 29, about 464,000 b/d more than the previous week’s average. Refineries operated at 91.9% 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 6.0 million b/d, down by 201,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.0 million b/d, 21.3% less than the same period last year. Total motor gasoline imports averaged 399,000 b/d. Distillate fuel imports averaged 143,000 b/d.