US crude oil inventories for the week ended Oct. 23, excluding the Strategic Petroleum Reserve, increased by 4.3 million bbl from the previous week, according to data from the US Energy Information Administration.
At 492.4 million bbl, US crude oil inventories are 9% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 900,000 bbl and are about 3% 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 4.5 million bbl and are about 17% above the 5-year average for this time of year.
Propane-propylene inventories increased by 100,000 bbl last week and are about 11% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 13.4 million b/d for the week ended Oct. 23, about 363,000 b/d more than the previous week’s average. Refineries operated at 74.6% of capacity.
Gasoline production increased, averaging 9.1 million b/d. Distillate fuel production decreased, averaging 4.1 million b/d.
US crude oil imports averaged 5.7 million b/d, up 500,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.5 million b/d, 13.1% less than the same period last year. Total motor gasoline imports averaged 460,000 b/d. Distillate fuel imports averaged 344,000 b/d.