US crude oil inventories for the week ended June 30, excluding the Strategic Petroleum Reserve, decreased by 1.5 million bbl from the previous week, according to data from the US Energy Information Administration.
The report was released a day later than usual due to the US holiday July 4.
At 452.2 million bbl, US crude oil inventories are about 1% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.5 million bbl and are about 7% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories decreased by 1.0 million bbl and are about 16% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1.6 million bbl and are about 26% 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 June 30, about 224,000 b/d less than the previous week’s average. Refineries operated at 91.1% 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 7.0 million b/d, up 459,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 0.4% more than the same period last year. Total motor gasoline imports averaged 851,000 b/d. Distillate fuel imports averaged 113,000 b/d.