US crude oil inventories for the week ended Jan. 5, excluding the Strategic Petroleum Reserve, increased by 1.3 million bbl from the previous week, according to data from the US Energy Information Administration.
At 432.4 million bbl, US crude oil inventories are about 2% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 8.0 million bbl from last week and are about 1% above the 5-year average for this time of year. Finished gasoline and blending components inventories increased last week. Distillate fuel inventories increased by 6.5 million bbl and are about 4% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 3.6 million bbl from last week and are about 12% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 16.5 million b/d for the week ended Jan. 5, about 161,000 b/d less than the previous week’s average. Refineries operated at 92.9% of capacity.
Gasoline production increased, averaging 9.7 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.
US crude oil imports averaged 6.2 million b/d, down 654,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 8.2% more than the same 4-week period last year. Total motor gasoline imports averaged 500,000 b/d. Distillate fuel imports averaged 274,000 b/d.