US crude oil inventories for the week ended May 22, excluding the Strategic Petroleum Reserve, increased by 7.9 million bbl from the previous week, according to data from the US Energy Information Administration.
The Weekly Petroleum Status Report was released a day later than usual due to the closure of the Federal Government on Monday, May 25.
At 534.4 million bbl, US crude oil inventories are 13% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 700,000 bbl and are 10% above the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories increased by 5.5 million bbl and are about 24% above the 5-year average for this time of year.
Propane-propylene inventories increased by 1.5 million bbl last week and are about 13% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 13.0 million b/d for the week ended May 22, about 87,000 b/d more than the previous week’s average. Refineries operated at 71.3% of capacity.
Gasoline production increased, averaging 7.2 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.
US crude oil imports averaged 7.2 million b/d, up 2.0 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.9 million b/d, 16.4% less than the same period last year. Total motor gasoline imports averaged 292,000 b/d. Distillate fuel imports averaged 155,000 b/d.