US crude oil inventories for the week ended Mar. 4, excluding the Strategic Petroleum Reserve, decreased by 1.9 million bbl from the previous week, according to data from the US Energy Information Administration.
At 411.6 million bbl, US crude oil inventories are 13% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 1.4 million bbl from last week and are about 1% above 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 5.2 million bbl last week and are 18% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.6 million bbl and are about 21% 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 Mar. 4, about 21,000 b/d less than the previous week’s average. Refineries operated at 89.3% of capacity.
Gasoline production increased, averaging 9.6 million b/d. Distillate fuel production decreased, averaging 4.6 million b/d.
US crude oil imports averaged 6.3 million b/d, up 600,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 10.1% more than the same period last year. Total motor gasoline imports averaged 760,000 b/d. Distillate fuel imports averaged 274,000 b/d.