US crude oil inventories for the week ended July 23, excluding the Strategic Petroleum Reserve, decreased by 4.1 million bbl from the previous week, according to data from the US Energy Information Administration.
At 435.6 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 2.3 million bbl from last week and are at 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 3.1 million bbl last week and are 7% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1.9 million bbl and are about 14% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.9 million b/d for the week ended July 23, about 132,000 b/d less than the previous week’s average. Refineries operated at 91.1% of capacity.
Gasoline production increased, averaging 9.8 million b/d. Distillate fuel production decreased, averaging 4.7 million b/d.
US crude oil imports averaged 6.5 million b/d, down 600,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 6.9% more than the same period last year. Total motor gasoline imports averaged 909,000 b/d. Distillate fuel imports averaged 188,000 b/d.