US crude oil inventories for the week ended May 19, excluding the Strategic Petroleum Reserve, decreased by 12.5 million bbl from the previous week, according to data from the US Energy Information Administration.
At 455.2 million bbl, US crude oil inventories are 3% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.1 million bbl and are about 8% 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 600,000 bbl and are about 18% below the 5-year average for this time of year.
Propane-propylene inventories increased by 3.1 million bbl and are about 32% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.1 million b/d for the week ended May 19, about 79,000 b/d more than the previous week’s average. Refineries operated at 91.7% of capacity.
Gasoline production increased, averaging 10.3 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 5.9 million b/d, down 1.01 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 3.9% less than the same period last year. Total motor gasoline imports averaged 763,000 b/d. Distillate fuel imports averaged 156,000 b/d.
