EIA: US crude oil inventories up 3 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 3 million bbl for the week ended February 23 from the previous week, the US Energy Information Administration said.

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 3 million bbl for the week ended February 23 from the previous week, the US Energy Information Administration said.

The latest estimate is 423.5 million bbl, putting oil in storage in the lower half of the average range for this time of year, the US Energy Information Administration said.

The report also said total motor gasoline inventories increased by 2.5 million bbl and are in the upper half of the average range. Blending components and finished gasoline inventories both increased last week. Distillate fuel inventories decreased by 1 million bbl last week and are in the middle of the average range for this time of year.

Propane-propylene inventories are again in the lower half of the average range with a decrease of 0.4 million bbl last week, EIA said.

US refinery inputs averaged 15.9 million b/d for the week ended Feb. 23, 49,000 b/d more than the previous week’s average. Refineries operated at 87.8% of capacity.

Gasoline production decreased, averaging 9.4 million b/d. Distillate fuel production remained nearly unchanged, averaging 4.5 million b/d.

US crude oil imports averaged 7.3 million b/d, up by 261,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.5 million b/d, 8.1% less than the same period last year. Total motor gasoline imports averaged 446,000 b/d. Distillate fuel imports averaged 207,000 b/d.

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