US crude oil inventories for the week ended Nov. 4, excluding the Strategic Petroleum Reserve, increased by 3.9 million bbl from the previous week, according to data from the US Energy Information Administration.
At 440.8 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 900,000 bbl and are about 6% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories decreased by 500,000 bbl and are about 17% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 300,000 bbl last week and are about 4% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.1 million b/d for the week ended Nov. 4, about 247,000 b/d more than the previous week’s average. Refineries operated at 92.1% of capacity.
Gasoline production increased, averaging 9.8 million b/d. Distillate fuel production increased, averaging 5.2 million b/d.
US crude oil imports averaged 6.5 million b/d, up 249,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 1.6% more than the same period last year. Total motor gasoline imports averaged 489,000 b/d. Distillate fuel imports averaged 328,000 b/d.