US crude oil inventories for the week ended Apr. 2, excluding the Strategic Petroleum Reserve, decreased by 3.5 million bbl from the previous week, according to data from the US Energy Information Administration.
At 498.3 million bbl, US crude oil inventories are about 3% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 4.0 million bbl from last week and are about 2% below the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories increased by 1.5 million bbl last week and are about 5% above the 5-year average for this time of year.
Propane-propylene inventories increased by 300,000 bbl and are about 18% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.0 million b/d for the week ended Apr. 2, about 103,000 b/d more than the previous week’s average. Refineries operated at 84.0% of capacity.
Gasoline production decreased, averaging 9.3 million b/d. Distillate fuel production decreased, averaging 4.6 million b/d.
US crude oil imports averaged 6.3 million b/d, up 119,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.8 million b/d, 5.0% less than the same period last year. Total motor gasoline imports averaged 1.3 million b/d. Distillate fuel imports averaged 325,000 b/d.
