US crude oil inventories for the week ended Mar. 11, excluding the Strategic Petroleum Reserve, increased by 4.3 million bbl from the previous week, according to data from the US Energy Information Administration.
At 415.9 million bbl, US crude oil inventories are 12% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 3.6 million bbl and are at the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories increased by 300,000 bbl and are about 16% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.2 million bbl last week and are about 25% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.6 million b/d for the week ended Mar. 11, about 224,000 b/d more than the previous week’s average. Refineries operated at 90.4% of capacity.
Gasoline production decreased, averaging 9.4 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 6.4 million b/d, up 76,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 15.7% more than the same period last year. Total motor gasoline imports averaged 531,000 b/d. Distillate fuel imports averaged 222,000 b/d.