US crude oil inventories for the week ended May 12, excluding the Strategic Petroleum Reserve, increased by 5.0 million bbl from the previous week, according to data from the US Energy Information Administration.
At 467.6 million bbl, US crude oil inventories are slightly below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 1.4 million bbl and are about 6% below the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories increased by 100,000 bbl and are about 16% below the 5-year average for this time of year.
Propane-propylene inventories increased by 2.3 million bbl and are about 30% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.0 million b/d for the week ended May 12, about 245,000 b/d more than the previous week’s average. Refineries operated at 92.0% of capacity.
Gasoline production decreased, averaging 9.5 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 6.9 million b/d, up 1.306 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 0.3% more than the same period last year. Total motor gasoline imports averaged 844,000 b/d. Distillate fuel imports averaged 128,000 b/d.