US crude oil inventories for the week ended Nov. 5, excluding the Strategic Petroleum Reserve, increased by 1 million bbl from the previous week, according to data from the US Energy Information Administration.
At 435.1 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 1.6 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 decreased by 2.6 million bbl from last week and are 6% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.3 million bbl and are about 14% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.4 million b/d for the week ended Nov. 5, about 343,000 b/d more than the previous week’s average. Refineries operated at 86.7% of capacity.
Gasoline production decreased, averaging 10.1 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 6.1 million b/d, down 63,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.1 million b/d, 14.3% more than the same period last year. Total motor gasoline imports averaged 587,000 b/d. Distillate fuel imports averaged 278,000 b/d.