EIA: US crude inventories down 1.7 million bbl

US crude oil inventories for the week ended Jan. 4, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, data from the US Energy Information Administration showed. At 439.7 million bbl, US crude oil inventories are about 8% above the 5-year average for this time of year, the report indicated.

US crude oil inventories for the week ended Jan. 4, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, data from the US Energy Information Administration showed.

At 439.7 million bbl, US crude oil inventories are about 8% above the 5-year average for this time of year, the report indicated.

EIA said total motor gasoline inventories increased by 8.1 million bbl and are about 5% above the 5-year range. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories increased by 10.6 million bbl and are about 5% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 1.9 million bbl last week and are about 3% below the 5-year average for this time of year, EIA said.

US refinery inputs averaged 17.6 million b/d for the week ended Jan. 4, about 194,000 b/d less than the previous week’s average. Refineries operated at 96.1% of capacity.

Gasoline production decreased, averaging 9.4 million b/d. Distillate fuel production decreased, averaging 5.6 million b/d.

US crude oil imports averaged 7.8 million b/d, up by 454,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.6 million b/d, 3.6% less than the same period last year. Total motor gasoline imports averaged 550,000 b/d. Distillate fuel imports averaged 261,000 b/d.

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