US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, declined 1 million bbl during the week ended Jan. 28 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report. The SPR released 1.9 million bbl during the week.
At 415.1 million bbl, US crude inventories are about 9% below the 5-year average range for this time of year.
For the week ended Jan. 21, EIA reported a 2.4 million bbl gain (OGJ Online, Jan. 26, 2022).
Gasoline stockpiles rise
Total motor gasoline inventories during the week ended Jan. 28 increased 2.1 million bbl, but are 2% below the average range, EIA said. Finished gasoline inventories decreased while blending components inventories increased last week.
Distillate fuel inventories dropped 2.4 million bbl and are 19% below the average range for this time of year. Propane-propylene inventories fell 4.3 million bbl and are 12% below the 5-year average. Total commercial petroleum inventories decreased 5.8 million bbl.
US crude refinery inputs during the week averaged 15.2 million b/d, down 248,000 b/d from the previous week’s average. Refineries operated at 86.7% of their operable capacity.
Gasoline production decreased to 8.7 million b/d. Distillate fuel production decreased to 4.6 million b/d.
US crude imports averaged 7.1 million b/d, up 800,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 6.5 million b/d, an increase of 9.6% from the same 4-week period last year.
Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 433,000 b/d. Distillate fuel imports averaged 250,000 b/d last week.
