US crude oil inventories for the week ended May 15, excluding the Strategic Petroleum Reserve, decreased by 5 million bbl from the previous week, according to data from the US Energy Information Administration.
At 526.5 million bbl, US crude oil inventories are 10% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 2.8 million bbl and are 10% above at the 5-year range for this time of year. Finished gasoline and blending component inventories both increased last week. Distillate fuel inventories increased by 3.8 million bbl and are about 19% above the 5-year average for this time of year.
Propane-propylene inventories increased by 1.1 million bbl last week and are about 14% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 12.9 million b/d for the week ended May 15, about 500,000 b/d more than the previous week’s average. Refineries operated at 69.4% of capacity.
Gasoline production decreased, averaging 7.2 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.
US crude oil imports averaged 5.2 million b/d, down 194,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.4 million b/d, 24.6% less than the same period last year. Total motor gasoline imports averaged 526,000 b/d. Distillate fuel imports averaged 322,000 b/d.