EIA: US crude inventories up 3.6 million bbl

US crude oil inventories for the week ended Jan. 16, excluding the Strategic Petroleum Reserve, increased by 3.6 million bbl from the previous week, according to data from the US Energy Information Administration.

The report was released a day later than usual due to the federal holiday Jan. 19. At 426.0 million bbl, US crude oil inventories are about 2% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 6.0 million bbl from last week and are about 5% above the 5-year average for this time of year. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories increased by 3.3 million bbl last week and are about 1% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 2.1 million bbl from last week and are 39% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.6 million b/d for the week ended Jan. 16, which was 354,000 b/d less than the previous week’s average. Refineries operated at 93.3% of capacity.

Gasoline production decreased, averaging 8.8 million b/d. Distillate fuel production decreased by 210,000 b/d, averaging 5.1 million b/d.

US crude oil imports averaged 6.4 million b/d, down by 645,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 5.3% less than the same 4-week period last year. Total motor gasoline imports averaged 412,000 b/d. Distillate fuel imports averaged 215,000 b/d.