EIA: US crude inventories up 3.4 million bbl

Feb. 6, 2020
US crude oil inventories for the week ended Jan. 31, excluding the Strategic Petroleum Reserve, increased by 3.4 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Jan. 31, excluding the Strategic Petroleum Reserve, increased by 3.4 million bbl from the previous week, according to data from the US Energy Information Administration.

At 435.0 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 100,000 bbl and are 4% above the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories decreased by 1.5 million bbl and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories increased by 600,000 bbl last week and are about 37% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 16.0 million b/d for the week ended Jan. 31, about 48,000 b/d more than the previous week’s average. Refineries operated at 87.4% of capacity.

Gasoline production increased, averaging 9.9 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.

US crude oil imports averaged 6.6 million b/d, down 46,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 12.3% less than the same period last year. Total motor gasoline imports averaged 676,000 b/d. Distillate fuel imports averaged 194,000 b/d.