EIA: US crude inventories up 7.7 million bbl

US crude oil inventories for the week ended July 25, excluding the Strategic Petroleum Reserve, increased by 7.7 million bbl from the previous week, according to data from the US Energy Information Administration (EIA).

At 426.7 million bbl, US crude oil inventories are about 6% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 2.7 million bbl from last week and are about 1% below the 5-year average for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories increased by 3.6 million bbl last week and are about 16% below the 5-year average for this time of year.

Propane-propylene inventories increased by 1.1 million bbl from last week and are 9% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.9 million b/d for the week ended July 25, which was 25,000 b/d less than the previous week’s average. Refineries operated at 95.4% of capacity.

Gasoline production increased, averaging 10.0 million b/d. Distillate fuel production increased by 131,000 b/d, averaging 5.2 million b/d.

US crude oil imports averaged 6.1 million b/d, up by 159,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.1 million b/d, 11.3% less than the same 4-week period last year. Total motor gasoline imports averaged 691,000 b/d. Distillate fuel imports averaged 229,000 b/d.