US crude oil inventories for the week ended Dec. 27, excluding the Strategic Petroleum Reserve, decreased by 11.5 million bbl from the previous week, according to data from the US Energy Information Administration.
EIA released the Weekly Petroleum Status Report two days later than normal because of the New Year holiday in the US.
At 429.9 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 increased by 3.2 million bbl and are 5% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories increased by 8.8 million bbl and are about 6% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 200,000 bbl last week and are about 11% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 17.3 million b/d for the week ended Dec. 27, about 303,000 b/d more than the previous week’s average. Refineries operated at 94.5% of capacity.
Gasoline production decreased, averaging 10.2 million b/d. Distillate fuel production decreased, averaging 5.3 million b/d.
US crude oil imports averaged 6.4 million b/d, down 457,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.7 million b/d, 10.8% less than the same period last year. Total motor gasoline imports averaged 473,000 b/d. Distillate fuel imports averaged 183,000 b/d.