US crude oil inventories for the week ended Mar. 26, excluding the Strategic Petroleum Reserve, decreased by 900,000 bbl from the previous week, according to data from the US Energy Information Administration.
At 501.8 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 decreased by 1.7 million 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 decreased last week. Distillate fuel inventories increased by 2.5 million bbl last week and are about 4% above the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.0 million bbl and are about 18% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 14.9 million b/d for the week ended Mar. 26, about 600,000 b/d more than the previous week’s average. Refineries operated at 83.9% of capacity.
Gasoline production increased, averaging 9.3 million b/d. Distillate fuel production increased, averaging 4.7 million b/d.
US crude oil imports averaged 6.1 million b/d, up 500,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.7 million b/d, 9.4% less than the same period last year. Total motor gasoline imports averaged 619,000 b/d. Distillate fuel imports averaged 441,000 b/d.
