US crude oil inventories for the week ended Mar. 12, excluding the Strategic Petroleum Reserve, increased by 2.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 500.8 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 increased by 500,000 bbl from last week and are about 4% below the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories remained unchanged last week. Distillate fuel inventories increased by 300,000 bbl last week and are about 2% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 200,000 and are about 15% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 13.4 million b/d for the week ended Mar. 12, about 1.1 million b/d more than the previous week’s average. Refineries operated at 76.1% of capacity.
Gasoline production decreased, averaging 8.9 million b/d. Distillate fuel production increased, averaging 4.2 million b/d.
US crude oil imports averaged 5.3 million b/d, down 332,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.5 million b/d, 13.9% less than the same period last year. Total motor gasoline imports averaged 910,000 b/d. Distillate fuel imports averaged 524,000 b/d.