EIA: US crude inventories up 3.4 million bbl

US crude oil inventories for the week ended Jan. 9, excluding the Strategic Petroleum Reserve, increased by 3.4 million bbl from the previous week, according to data from the US Energy Information Administration (EIA).

At 422.4 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 9.0 million bbl from last week and are 4% above the 5-year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories slightly decreased and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 2.4 million bbl from last week and are 33% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 17.0 million b/d for the week ended Jan. 9, 48,000 b/d more than the previous week’s average. Refineries operated at 95.3% of capacity.

Gasoline production increased, averaging 9.0 million b/d. Distillate fuel production decreased by 18,000 b/d, averaging 5.3 million b/d.

US crude oil imports averaged 7.1 million b/d, up 752,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.1 million b/d, 5.7% less than the same 4-week period last year. Total motor gasoline imports averaged 448,000 b/d. Distillate fuel imports averaged 220,000 b/d.