EIA: US crude inventories down 10.6 million bbl

Aug. 30, 2023
US crude oil inventories for the week ended Aug. 25, excluding the Strategic Petroleum Reserve, decreased by 10.6 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Aug. 25, excluding the Strategic Petroleum Reserve, decreased by 10.6 million bbl from the previous week, according to data from the US Energy Information Administration.

At 422.9 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 200,000 bbl from last week and are about 5% below the 5-year average for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories increased by 1.2 million bbl and are about 15% below the 5-year average for this time of year.

Propane-propylene inventories increased by 3.2 million bbl and are 21% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 16.6 million b/d for the week ended Aug. 25, about 173,000 b/d less than the previous week’s average. Refineries operated at 93.3% of capacity.

Gasoline production increased, averaging 10.0 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.

US crude oil imports averaged 6.6 million b/d, down 316,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 million b/d, 12.1% more than the same period last year. Total motor gasoline imports averaged 848,000 b/d. Distillate fuel imports averaged 163,000 b/d.