US crude oil inventories for the week ended Dec. 30, excluding the Strategic Petroleum Reserve, increased by 1.7 million bbl from the previous week, according to data from the US Energy Information Administration.
The report was released a day later than usual due to the US holiday Jan. 2.
At 420.6 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 decreased by 300,000 bbl and are about 6% below the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories decreased by 1.4 million bbl and are about 14% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 3.7 million bbl last week and are about 15% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 13.8 million b/d for the week ended Dec. 30, about 2.3 million b/d less than the previous week’s average. Refineries operated at 79.6% of capacity.
Gasoline production decreased, averaging 8.5 million b/d. Distillate fuel production decreased, averaging 4.0 million b/d.
US crude oil imports averaged 5.7 million b/d, down 540,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 2.6% less than the same period last year. Total motor gasoline imports averaged 551,000 b/d. Distillate fuel imports averaged 113,000 b/d.