US crude oil inventories for the week ended May 30, excluding the Strategic Petroleum Reserve, decreased by 4.3 million bbl from the previous week, according to data from the US Energy Information Administration.
At 436.1 million bbl, US crude oil inventories are about 7% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 5.2 million bbl from last week and about 1% below the 5-year average for this time of year. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 4.2 million bbl last week and are about 16% below the 5-year average for this time of year.
Propane-propylene inventories increased by 6.8 million bbl from last week and are 2% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 17.0 million b/d for the week ended May 30, 670,000 b/d more than the previous week’s average. Refineries operated at 93.4% of capacity.
Gasoline production decreased, averaging 9 million b/d. Distillate fuel production increased by 183,000 b/d, averaging 5 million b/d.
US crude oil imports averaged 6.3 million b/d, down by 5,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 9.6% less than the same 4-week period last year. Total motor gasoline imports averaged 845,000 b/d. Distillate fuel imports averaged 166,000 b/d.
