EIA: US crude inventories down 1.4 million bbl

US crude oil inventories for the week ended Apr. 12, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, data from the US Energy Information Administration showed. At 455.2 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the report indicated.

Apr 17th, 2019

US crude oil inventories for the week ended Apr. 12, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, data from the US Energy Information Administration showed.

At 455.2 million bbl, US crude oil inventories are 2% below 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 decreased by 3.1 million bbl for the week.

EIA said total motor gasoline inventories decreased by 1.2 million bbl and are 1% below the 5-year range for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 400,000 bbl and are about 5% below the 5-year average for this time of year.

Propane-propylene inventories increased by 2.4 million bbl last week and are about 22% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 16.1 million b/d for the week ended Apr. 12, about 22,000 b/d less than the previous week’s average. Refineries operated at 87.7% of capacity.

Gasoline production decreased, averaging 9.9 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.

US crude oil imports averaged 6 million b/d, down by 607,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 20.6% less than the same period last year. Total motor gasoline imports averaged 990,000 b/d. Distillate fuel imports averaged 138,000 b/d.

More in Economics & Markets
Economics & Markets
Canada nixes controversial-bill overhaul