US crude oil inventories for the week ended July 17, excluding the Strategic Petroleum Reserve, increased by 4.9 million bbl from the previous week, according to data from the US Energy Information Administration.
At 536.6 million bbl, US crude oil inventories are 19% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 1.8 million bbl and are 7% above the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories increased by 1.1 million bbl and are about 27% above the 5-year average for this time of year.
Propane-propylene inventories increased by 2.0 million bbl last week and are about 12% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 14.2 million b/d for the week ended July 17, about 103,000 b/d less than the previous week’s average. Refineries operated at 77.9% of capacity.
Gasoline production decreased, averaging 9.1 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.
US crude oil imports averaged 5.9 million b/d, up 373,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 13.5% less than the same period last year. Total motor gasoline imports averaged 542,000 b/d. Distillate fuel imports averaged 52,000 b/d.