EIA: US crude inventories down 6.9 million bbl

US crude oil inventories for the week ended Sept. 6, excluding the Strategic Petroleum Reserve, decreased by 6.9 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Sept. 6, excluding the Strategic Petroleum Reserve, decreased by 6.9 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 7.2 million bbl for the week.

At 416.1 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, EIA’s report indicated.

EIA said total motor gasoline inventories decreased by 700,000 bbl and are 3% above the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories increased 2.7 million bbl and are about 6% below the 5-year average for this time of year.

Propane-propylene inventories increased 700,000 bbl last week and are about 14% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 17.5 million b/d for the week ended Sept. 6, about 114,000 b/d more than the previous week’s average. Refineries operated at 95.1% of capacity.

Gasoline production increased, averaging 10.4 million b/d. Distillate fuel production increased, averaging 5.3 million b/d.

US crude oil imports averaged 6.7 million b/d, down 180,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.7 million b/d, 11.7% less than the same period last year. Total motor gasoline imports averaged 797,000 b/d. Distillate fuel imports averaged 44,000 b/d.

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