US crude oil inventories for the week ended May 21, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, according to data from the US Energy Information Administration.
At 484.3 million bbl, US crude oil inventories are 2% below 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 3% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories decreased by 3.0 million bbl last week and 8% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 400,000 bbl and are about 21% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.2 million b/d for the week ended May 21, about 123,000 b/d more than the previous week’s average. Refineries operated at 87.0% of capacity.
Gasoline production decreased, averaging 9.7 million b/d. Distillate fuel production increased, averaging 4.7 million b/d.
US crude oil imports averaged 6.3 million b/d, down 138,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.9 million b/d, 0.5% more than the same period last year. Total motor gasoline imports averaged 1.0 million b/d. Distillate fuel imports averaged 273,000 b/d.