EIA: US crude inventories down 6 million bbl

US crude oil inventories for the week ended Aug. 15, excluding the Strategic Petroleum Reserve, decreased by 6 million bbl from the previous week, according to data from the US Energy Information Administration.

At 420.7 million bbl, US crude oil inventories are about 6% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 2.7 million bbl from last week and are about 1% below the 5-year average for this time of year. Finished gasoline inventories and blending components inventories both decreased last week. Distillate fuel inventories increased by 2.3 million bbl last week and are about 13% below the 5-year average for this time of year.

Propane-propylene inventories increased by 2.6 million bbl from last week and are about 12% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 17.2 million b/d for the week ended Aug. 15, about 28,000 b/d more than the previous week’s average. Refineries operated at 96.6% of capacity.

Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production increased by 193,000 b/d, averaging 5.3 million b/d.

US crude oil imports averaged 6.5 million b/d, down 423,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 2.3% less than the same 4-week period last year. Total motor gasoline imports averaged 655,000 b/d. Distillate fuel imports averaged 124,000 b/d.