US crude oil inventories for the week ended June 26, excluding the Strategic Petroleum Reserve, decreased by 7.2 million bbl from the previous week, according to data from the US Energy Information Administration.
At 533.5 million bbl, US crude oil inventories are 15% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 1.2 million 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 decreased by 600,000 bbl and are about 28% above the 5-year average for this time of year.
Propane-propylene inventories increased by 3.3 million bbl last week and are about 7% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 14.0 million b/d for the week ended June 26, about 193,000 b/d more than the previous week’s average. Refineries operated at 75.5% of capacity.
Gasoline production increased, averaging 8.9 million b/d. Distillate fuel production increased, averaging 4.6 million b/d.
US crude oil imports averaged 6.0 million b/d, down 600,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 11.3% less than the same period last year. Total motor gasoline imports averaged 1 million b/d. Distillate fuel imports averaged 135,000 b/d.