EIA: US crude inventories up 6.4 million bbl

US crude oil inventories for the week ended Nov. 7, excluding the Strategic Petroleum Reserve, increased by 6.4 million bbl from the previous week, according to data from the US Energy Information Administration.

The report was issued a day later than usual due to the closure of the EIA Nov. 11 for the Veteran’s Day holiday.

At 427.6 million bbl, US crude oil inventories are about 4% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 900,000 bbl from last week and are about 4% below the 5-year average for this time of year. Finished gasoline inventories increased, while blending components inventories decreased last week. Distillate fuel inventories decreased by 600,000 bbl last week and are about 8% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 700,000 bbl from last week and are 16% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.0 million b/d for the week ended Nov. 7, which was 717,000 b/d more than the previous week’s average. Refineries operated at 89.4% of capacity.

Gasoline production increased, averaging 9.9 million b/d. Distillate fuel production increased by 319,000, averaging 5.0 million b/d.

US crude oil imports averaged 5.2 million b/d, down 703,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.5 million b/d,12.1% less than the same 4-week period last year. Total motor gasoline imports averaged 548,000 b/d. Distillate fuel imports averaged 167,000 b/d.