EIA: US crude stocks down 4.9 million bbl

US commercial crude oil inventories, which exclude the Strategic Petroleum Reserve, decreased 4.9 million bbl during the week ended Jan. 5 from the previous week. The latest estimate is 419.5 million bbl, which puts oil in storage in the middle of the average range for this time of year, the US Energy Information Administration said.

US commercial crude oil inventories, which exclude the Strategic Petroleum Reserve, decreased 4.9 million bbl during the week ended Jan. 5 from the previous week.

The latest estimate is 419.5 million bbl, which puts oil in storage in the middle of the average range for this time of year, the US Energy Information Administration said.

EIA’s Petroleum Status Report said total motor gasoline inventories increased 4.1 million bbl and are near the top of the average range. Blending-component stocks increased. Finished gasoline inventories were down slightly. Distillate fuel inventories increased 4.3 million bbl last week, which puts supplies in the middle range for this time of year.

Propane-propylene inventories decreased 6.3 million bbl, in the middle of the average range, EIA said.

US refinery inputs averaged 17.3 million b/d for the week ended Jan. 5, down 285,000 b/d from the previous week’s average. Refineries operated at 95.3% of capacity.

Gasoline production decreased, averaging 9.5 million b/d. Distillate fuel production decreased, averaging 5.3 million b/d.

US crude oil imports averaged 7.7 million b/d, down 308,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.9 million b/d, 4.3% less than the same period last year. Total motor gasoline imports averaged 264,000 b/d. Distillate fuel imports averaged 175,000 b/d.

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