EIA: US crude inventories down 8.5 million bbl

US crude oil inventories for the week ended July 26, excluding the Strategic Petroleum Reserve, decreased by 8.5 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended July 26, excluding the Strategic Petroleum Reserve, decreased by 8.5 million bbl from the previous week, according to data from the US Energy Information Administration.

Separately, the American Petroleum Institute said its own estimates showed US crude inventories decreased by 6 million bbl for the week.

At 436.5 million bbl, US crude oil inventories are at the 5-year average for this time of year, the report indicated.

EIA said total motor gasoline inventories decreased by 1.8 million bbl and are 2% above the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories decreased by 900,000 bbl and are about 3% below the 5-year average for this time of year.

Propane-propylene inventories increased by 1.4 million bbl last week and are about 6% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 17 million b/d for the week ended July 26, about 43,000 b/d less than the previous week’s average. Refineries operated at 93% of capacity.

Gasoline production increased, averaging 10.4 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.

US crude oil imports averaged 6.7 million b/d, down 365,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7 million b/d, 13.1% less than the same period last year. Total motor gasoline imports averaged 1.1 million b/d. Distillate fuel imports averaged 103,000 b/d.

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