US crude oil inventories for the week ended Nov. 12, excluding the Strategic Petroleum Reserve, decreased by 2.1 million bbl from the previous week, according to data from the US Energy Information Administration.
At 433.0 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 700,000 bbl from last week and are about 4% below the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories remained unchanged. Distillate fuel inventories decreased by 800,000 bbl from last week and are 5% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 200,000 bbl and are about 13% 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. 12, about 32,000 b/d more than the previous week’s average. Refineries operated at 87.9% of capacity.
Gasoline production decreased, averaging 9.9 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.
US crude oil imports averaged 6.2 million b/d, up 83,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 15.3% more than the same period last year. Total motor gasoline imports averaged 823,000 b/d. Distillate fuel imports averaged 239,000 b/d.