US crude oil inventories for the week ended May 3, excluding the Strategic Petroleum Reserve, decreased by 4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 466.6 million bbl, US crude oil inventories are at 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 by 2.8 million bbl for the week.
EIA said total motor gasoline inventories decreased by 600,000 bbl and are 2% below the 5-year range for this time of year. Finished gasoline inventories and blending components inventories both decreased last week. Distillate fuel inventories decreased by 200,000 bbl and are about 5% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1 million bbl last week and are about 17% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.4 million b/d for the week ended May 3, about 41,000 b/d less than the previous week’s average. Refineries operated at 88.9% of capacity.
Gasoline production increased, averaging 10.1 million b/d. Distillate fuel production decreased, averaging 5.1 million b/d.
US crude oil imports averaged 6.7 million b/d, down by 721,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 million b/d, 15.6% less than the same period last year. Total motor gasoline imports averaged 1.1 million b/d. Distillate fuel imports averaged 111,000 b/d.