US crude oil inventories for the week ended Apr. 1, excluding the Strategic Petroleum Reserve, increased by 2.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 412.4 million bbl, US crude oil inventories are about 14% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.0 million bbl and are at 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 800,000 bbl and are about 15% below the 5-year average for this time of year.
Propane-propylene inventories increased 700,000 bbl last week and are about 21% 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 Apr. 1, about 35,000 b/d more than the previous week’s average. Refineries operated at 92.5% of capacity.
Gasoline production increased, averaging 9.1 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.
US crude oil imports averaged 6.3 million b/d, up 41,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 8.9% more than the same period last year. Total motor gasoline imports averaged 484,000 b/d. Distillate fuel imports averaged 88,000 b/d.