US crude oil inventories for the week ended Sept. 1, excluding the Strategic Petroleum Reserve, decreased by 6.3 million bbl from the previous week, according to data from the US Energy Information Administration.
The information was released a day later than usual due to the US Labor Day holiday on Monday, Sept. 4.
At 416.6 million bbl, US crude oil inventories are about 4% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.7 million bbl from last week and are about 5% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories decreased last week. Distillate fuel inventories increased by 700,000 bbl and are about 14% below the 5-year average for this time of year.
Propane-propylene inventories increased by 500,000 bbl from last week and are about 18% 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 Sept. 1, about 20,000 b/d more than the previous week’s average. Refineries operated at 93.1% of capacity.
Gasoline production decreased, averaging 9.8 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.
US crude oil imports averaged 6.8 million b/d, up 154,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.9 million b/d, 9.7% more than the same period last year. Total motor gasoline imports averaged 982,000 b/d. Distillate fuel imports averaged 130,000 b/d.