US crude oil inventories for the week ended July 19, excluding the Strategic Petroleum Reserve, decreased by 3.7 million bbl from the previous week, according to data from the US Energy Information Administration.
At 436.5 million bbl, US crude oil inventories are about 5% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 5.6 million bbl from last week and are about 2% below the 5-year average for this time of year. Finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 2.8 million bbl last week and are about 9% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1.8 million bbl from last week and are 15% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 16.4 million b/d for the week ended July 19, which was 521,000 b/d less than the previous week’s average. Refineries operated at 91.6% of capacity.
Gasoline production increased, averaging 10.2 million b/d. Distillate fuel production decreased, averaging 4.9 million b/d.
US crude oil imports averaged 6.9 million b/d, down 166,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 million b/d, 2.9% more than the same 4-week period last year. Total motor gasoline imports averaged 778,000 b/d. Distillate fuel imports averaged 112,000 b/d.
