US crude oil inventories for the week ended Mar. 17, excluding the Strategic Petroleum Reserve, increased by 1.1 million bbl from the previous week, according to data from the US Energy Information Administration.
At 481.2 million bbl, US crude oil inventories are 8% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 6.4 million bbl and are about 4% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories decreased last week. Distillate fuel inventories decreased by 3.3 million bbl and are about 9% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.3 million bbl and are about 37% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.4 million b/d for the week ended Mar. 17, about 21,000 b/d less than the previous week’s average. Refineries operated at 88.6% of capacity.
Gasoline production increased, averaging 9.5 million b/d. Distillate fuel production increased, averaging 4.5 million b/d.
US crude oil imports averaged 6.2 million b/d, down 45,000 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 471,000 b/d. Distillate fuel imports averaged 222,000 b/d.