EIA: US crude inventories up 1.6 million bbl

US crude oil inventories for the week ended Aug. 9, excluding the Strategic Petroleum Reserve, increased by 1.6 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Aug. 9, excluding the Strategic Petroleum Reserve, increased by 1.6 million bbl from the previous week, according to data from the US Energy Information Administration.

At 440.5 million bbl, US crude oil inventories are 3% above the 5-year average for this time of year, the report indicated.

Separately, the American Petroleum Institute said its own estimates showed US crude inventories increased 3.7 million bbl for the week.

EIA said total motor gasoline inventories decreased by 1.4 million bbl and are 4% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories decreased by 1.9 million bbl and are about 3% below the 5-year average for this time of year.

Propane-propylene inventories increased by 3.2 million bbl last week and are about 9% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 17.3 million b/d for the week ended Aug. 9, about 475,000 b/d less than the previous week’s average. Refineries operated at 94.8% of capacity.

Gasoline production decreased, averaging 10.2 million b/d. Distillate fuel production decreased, averaging 5.1 million b/d.

US crude oil imports averaged 7.7 million b/d, up by 566,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.1 million b/d, 12% less than the same period last year. Total motor gasoline imports averaged 805,000 b/d. Distillate fuel imports averaged 126,000 b/d.

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