US crude oil inventories for the week ended Nov. 11, excluding the Strategic Petroleum Reserve, decreased by 5.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 435.4 million bbl, US crude oil inventories are about 4% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 2.2 million bbl from last week and are about 5% below the 5-year range for this time of year. Both finished gasoline inventories and blending component inventories increased last week. Distillate fuel inventories increased by 1.1 million bbl and are about 15% below the 5-year average for this time of year.
Propane-propylene inventories increased by 100,000 bbl from last week and are about 7% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.2 million b/d for the week ended Nov. 11, about 63,000 b/d more than the previous week’s average. Refineries operated at 92.9% of capacity.
Gasoline production increased, averaging 9.8 million b/d. Distillate fuel production decreased, averaging 5.1 million b/d.
US crude oil imports averaged 5.6 million b/d, down 895,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.1 million b/d, 1.3% less than the same period last year. Total motor gasoline imports averaged 572,000 b/d. Distillate fuel imports averaged 110,000 b/d.