US crude oil inventories for the week ended Jan. 12, excluding the Strategic Petroleum Reserve, decreased by 2.5 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 closure of the Federal government on Monday, Jan. 15.
At 429.9 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 increased by 3.1 million bbl from last week and are slightly above the 5-year average for this time of year. Finished gasoline and blending components inventories increased last week. Distillate fuel inventories increased by 2.4 million bbl and are about 3% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.8 million bbl from last week and are 13% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 16.7 million b/d for the week ended Jan. 12, about 135,000 b/d more than the previous week’s average. Refineries operated at 92.6% of capacity.
Gasoline production decreased, averaging 9.4 million b/d. Distillate fuel production decreased, averaging 4.9 million b/d.
US crude oil imports averaged 7.4 million b/d, up by 1.2 million from the previous week. Over the last 4 weeks, crude oil imports averaged 6.7 million b/d, 6.6% more than the same 4-week period last year. Total motor gasoline imports averaged 549,000 b/d. Distillate fuel imports averaged 115,000 b/d.