US crude oil inventories for the week ended Dec. 1, excluding the Strategic Petroleum Reserve, decreased by 4.6 million bbl from the previous week, according to data from the US Energy Information Administration.
At 445.0 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 increased by 5.4 million bbl from last week and are about 1% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories increased by 1.3 million bbl and are about 13% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.8 million bbl from last week and are 18% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 16.2 million b/d for the week ended Dec. 1, about 179,000 b/d more than the previous week’s average. Refineries operated at 90.5% of capacity.
Gasoline production increased, averaging 9.5 million b/d. Distillate fuel production increased, averaging 5.1 million b/d.
US crude oil imports averaged 7.5 million b/d, up 1.7 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 6.4% more than the same period four-week period last year. Total motor gasoline imports averaged 689,000 b/d. Distillate fuel imports averaged 82,000 b/d.