US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 2.6 million bbl for the week ended Aug. 24, according to data from the US Energy Information Administration.
At 405.8 million bbl, US crude oil inventories are at the 5-year average for this time of year, the Weekly Petroleum Status Report indicated.
The report said total motor gasoline inventories decreased by 1.6 million and are about 5% above the 5-year range. Finished gasoline inventories decreased while blending components inventories remained virtually unchanged last week. Distillate fuel inventories decreased by 800,000 bbl last week and are about 8% below the 5-year average for this time of year.
Propane-propylene inventories increased by 2.6 million bbl last week and are 12% 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 Aug. 24, about 326,000 b/d less than the previous week’s average. Refineries operated at 96.3% of capacity.
Gasoline production increased, averaging 10.2 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.
US crude oil imports averaged 7.5 million b/d, down by 33,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 8 million b/d, 1.9% less than the same period last year. Total motor gasoline imports averaged 868,000 b/d. Distillate fuel imports averaged 247,000 b/d.