EIA: US crude inventories up 8.5 million bbl

US crude oil inventories for the week ended Feb. 6, excluding the Strategic Petroleum Reserve, increased by 8.5 million bbl from the previous week, according to data from the US Energy Information Administration (EIA).

At 428.8 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 1.2 million bbl from last week and are about 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 decreased by 2.7 million bbl last week and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 5.4 million bbl from last week and are about 36% 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 Feb. 6, which was 29,000 b/d less than the previous week’s average. Refineries operated at 89.4% of capacity.

Gasoline production increased, averaging 9.1 million b/d. Distillate fuel production increased by 45,000 b/d, averaging 4.9 million b/d.

US crude oil imports averaged 6.8 million b/d, up by 604,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.3 million b/d, 5.0% less than the same 4-week period last year. Total motor gasoline imports averaged 365,000 b/d. Distillate fuel imports averaged 151,000 b/d.