US crude oil inventories for the week ended Feb. 24, excluding the Strategic Petroleum Reserve, increased by 1.2 million bbl from the previous week, according to data from the US Energy Information Administration.
At 480.2 million bbl, US crude oil inventories are 9% above 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 5% below the 5-year range for this time of year. Finished gasoline inventories were virtually unchanged, while blending component inventories decreased last week. Distillate fuel inventories increased by 200,000 bbl and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.7 million bbl and are about 30% 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 Feb. 24, about 31,000 b/d less than the previous week’s average. Refineries operated at 85.8% of capacity.
Gasoline production increased, averaging 9.7 million b/d. Distillate fuel production decreased, averaging 4.6 million b/d.
US crude oil imports averaged 6.2 million b/d, down 118,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 4.2% more than the same period last year. Total motor gasoline imports averaged 672,000 b/d. Distillate fuel imports averaged 197,000 b/d.