US crude oil inventories for the week ended Aug. 12, excluding the Strategic Petroleum Reserve, decreased by 7.1 million bbl from the previous week, according to data from the US Energy Information Administration.
At 425.0 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 decreased by 4.6 million bbl and are about 8% below 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 800,000 bbl and are about 23% below the 5-year average for this time of year.
Propane-propylene inventories increased by 2.3 million bbl last week and are about 8% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.4 million b/d for the week ended Aug. 12, about 158,000 b/d less than the previous week’s average. Refineries operated at 93.5% of capacity.
Gasoline production decreased, averaging 10.0 million b/d. Distillate fuel production increased, averaging 5.2 million b/d.
US crude oil imports averaged 6.1 million b/d, down 39,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 0.5% more than the same period last year. Total motor gasoline imports averaged 714,000 b/d. Distillate fuel imports averaged 164,000 b/d.