US crude oil inventories for the week ended Dec. 31, 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 417.9 million bbl, US crude oil inventories are 8% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 10.1 million 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 increased last week. Distillate fuel inventories increased by 4.4 million bbl from last week and are 16% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 700,000 bbl and are about 7% 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 Dec. 31, about 163,000 b/d more than the previous week’s average. Refineries operated at 89.8% of capacity.
Gasoline production decreased, averaging 8.5 million b/d. Distillate fuel production increased, averaging 5.0 million b/d.
US crude oil imports averaged 5.9 million b/d, down 900,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 16.7% more than the same period last year. Total motor gasoline imports averaged 596,000 b/d. Distillate fuel imports averaged 217,000 b/d.