EIA: US crude inventories up 6.8 million bbl

US crude oil inventories for the week ended May 31, excluding the Strategic Petroleum Reserve, increased by 6.8 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 increased by 3.6 million bbl for the week.

US crude oil inventories for the week ended May 31, excluding the Strategic Petroleum Reserve, increased by 6.8 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 increased by 3.6 million bbl for the week.

At 483.3 million bbl, US crude oil inventories are 6% above the 5-year average for this time of year, the report indicated.

EIA said total motor gasoline inventories increased by 3.2 million bbl and are 2% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories increased by 4.6 million bbl and are about 3% below the 5-year average for this time of year.

Propane-propylene inventories increased by 2.5 million bbl last week and are about 15% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 16.9 million b/d for the week ended May 31, about 171,000 b/d more than the previous week’s average. Refineries operated at 91.8% of capacity.

Gasoline production increased, averaging 10 million b/d. Distillate fuel production increased, averaging 5.4 million b/d.

US crude oil imports averaged 7.9 million b/d, up by 1.07 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.3 million b/d, 7.5% less than the same period last year. Total motor gasoline imports averaged 1.1 million b/d. Distillate fuel imports averaged 112,000 b/d.

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