US crude oil inventories for the week ended Jan. 20, excluding the Strategic Petroleum Reserve, increased by 500,000 bbl from the previous week, according to data from the US Energy Information Administration.
At 448.5 million bbl, US crude oil inventories are about 3% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 1.8 million bbl and are about 8% below the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories decreased by 500,000 bbl and are about 20% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.0 million bbl last week and are about 25% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.0 million b/d for the week ended Jan. 20, about 127,000 b/d more than the previous week’s average. Refineries operated at 86.1% of capacity.
Gasoline production decreased, averaging 8.8 million b/d. Distillate fuel production decreased slightly, averaging 4.6 million b/d.
US crude oil imports averaged 5.9 million b/d, down 956,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 0.4% less than the same period last year. Total motor gasoline imports averaged 453,000 b/d. Distillate fuel imports averaged 320,000 b/d.