US crude oil inventories for the week ended Mar. 5, excluding the Strategic Petroleum Reserve, increased by 13.8 million bbl from the previous week, according to data from the US Energy Information Administration.
At 498.4 million bbl, US crude oil inventories are about 6% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 11.9 million bbl from last week and are about 6% below the 5-year range for this time of year. Finished gasoline and blending component inventories both decreased last week. Distillate fuel inventories decreased by 5.5 million bbl last week and are about 4% below the 5-year average for this time of year.
Propane-propylene inventories were virtually unchanged and are about 15% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 12.3 million b/d for the week ended Mar. 5, about 2.4 million b/d more than the previous week’s average. Refineries operated at 69.0% of capacity.
Gasoline production increased, averaging 9.0 million b/d. Distillate fuel production increased, averaging 3.7 million b/d.
US crude oil imports averaged 5.7 million b/d, down 600,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.6 million b/d, 11.7% less than the same period last year. Total motor gasoline imports averaged 577,000 b/d. Distillate fuel imports averaged 472,000 b/d.