US crude oil inventories for the week ended May 13, excluding the Strategic Petroleum Reserve, decreased by 3.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 420.8 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 4.8 million bbl and are about 8% below the 5-year range for this time of year. Finished gasoline and blending component inventories both decreased last week. Distillate fuel inventories increased by 1.2 million bbl and are about 22% below the 5-year average for this time of year.
Propane-propylene inventories increased by 300,000 bbl last week and are about 10% 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 May 13, about 239,000 b/d more than the previous week’s average. Refineries operated at 91.8% of capacity.
Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production decreased, averaging 4.9 million b/d.
US crude oil imports averaged 6.6 million b/d, up 299,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 4.7% more than the same period last year. Total motor gasoline imports averaged 876,000 b/d. Distillate fuel imports averaged 114,000 b/d.