US crude oil inventories for the week ended Jan. 14, excluding the Strategic Petroleum Reserve (SPR), increased by 500,000 bbl from the previous week, according to data from the US Energy Information Administration. The SPR released 1.3 million bbl during the week.
At 413.8 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 5.9 million bbl from last week and are about 2% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories decreased by 1.4 million bbl from last week and are 16% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 3.7 million bbl and are about 7% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.5 million b/d for the week ended Jan. 14, about 120,000 b/d less than the previous week’s average. Refineries operated at 88.1% of capacity.
Gasoline production increased, averaging 8.7 million b/d. Distillate fuel production decreased, averaging 4.7 million b/d.
US crude oil imports averaged 6.7 million b/d, up 700,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 10.8% more than the same period last year. Total motor gasoline imports averaged 391,000 b/d. Distillate fuel imports averaged 306,000 b/d.
Mikaila Adams | Managing Editor - News
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was named Managing Editor - News in 2019. She holds a degree from Texas Tech University.