US crude oil inventories for the week ended Feb. 23, excluding the Strategic Petroleum Reserve, increased by 4.2 million bbl from the previous week, according to data from the US Energy Information Administration.
At 447.2 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 decreased by 2.8 million bbl from last week and are about 2% below the 5-year average for this time of year. Finished gasoline inventories increased, while blending components inventories decreased last week. Distillate fuel inventories decreased by 500,000 bbl and are about 8% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 3.4 million bbl from last week and are 1% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 14.7 million b/d for the week ended Feb. 23, about 100,000 b/d more than the previous week’s average. Refineries operated at 81.5% of capacity.
Gasoline production increased, averaging 9.4 million b/d. Distillate fuel production increased, averaging 4.3 million b/d.
US crude oil imports averaged 6.4 million b/d, down 269,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 2.3% more than the same 4-week period last year. Total motor gasoline imports averaged 384,000 b/d. Distillate fuel imports averaged 112,000 b/d.