US crude oil inventories for the week ended July 16, excluding the Strategic Petroleum Reserve, increased by 2.1 million bbl from the previous week, according to data from the US Energy Information Administration.
At 439.7 million bbl, US crude oil inventories are 7% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 100,000 bbl from last week and are at the 5-year range for this time of year. Finished gasoline inventories decreased while and blending component inventories increased last week. Distillate fuel inventories decreased by 1.3 million bbl last week and are 4% below the 5-year average for this time of year.
Propane-propylene inventories increased by 3.1 million bbl and are about 15% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.0 million b/d for the week ended July 16, about 87,000 b/d less than the previous week’s average. Refineries operated at 91.4% of capacity.
Gasoline production decreased, averaging 9.1 million b/d. Distillate fuel production decreased, averaging 4.9 million b/d.
US crude oil imports averaged 7.1 million b/d, up 900,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 2.9% more than the same period last year. Total motor gasoline imports averaged 1.4 million b/d. Distillate fuel imports averaged 87,000 b/d.