US crude oil inventories for the week ended July 15, excluding the Strategic Petroleum Reserve, decreased by 400,000 bbl from the previous week, according to data from the US Energy Information Administration.
At 426.6 million bbl, US crude oil inventories are about 6% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 3.5 million bbl and are about 3% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories decreased by 1.3 million bbl and are about 23% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1.4 million bbl last week and are about 16% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.3 million b/d for the week ended July 15, about 321,000 b/d less than the previous week’s average. Refineries operated at 93.7% of capacity.
Gasoline production increased, averaging 9.4 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.
US crude oil imports averaged 6.5 million b/d, down 200,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 1.7% more than the same period last year. Total motor gasoline imports averaged 865,000 b/d. Distillate fuel imports averaged 122,000 b/d.