EIA: US crude inventories up 6.2 million bbl

US crude oil inventories for the week ended Mar. 13, excluding the Strategic Petroleum Reserve, increased by 6.2 million bbl from the previous week, according to data from the US Energy Information Administration (EIA).

At 449.3 million bbl, US crude oil inventories are about 1% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 5.4 million bbl from last week and are 3% above the 5-year average for this time of year. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 2.5 million bbl last week and are about 3% below the 5-year average for this time of year.

Propane-propylene inventories increased by 800,000 bbl from last week and are 57% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.2 million b/d for the week ended Mar. 13, which was 63,000 b/d more than the previous week’s average. Refineries operated at 91.4% of operable capacity.

Gasoline production decreased, averaging 9.4 million b/d. Distillate fuel production decreased by 75,000 b/d, averaging 4.9 million b/d.

US crude oil imports averaged 7.2 million b/d, up by 772,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.7 million b/d, 17.8% more than the same 4-week period last year. Total motor gasoline imports averaged 447,000 b/d. Distillate fuel imports averaged 221,000 b/d.