EIA: US oil inventories increase by 5.5 million bbl

US crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 5.5 million bbl during the week ended Mar. 27 compared with the previous week’s total, according to the US Energy Information Administration’s (EIA) Petroleum Status Report.

At 461.6 million bbl, US crude inventories are about 0.1% above the 5-year average.

Total motor gasoline inventories decreased 600,000 bbl last week but are about 4% above the 5-year average. Finished gasoline inventories increased while blending components inventories decreased.

Distillate fuel inventories decreased by 2.1 million bbl and are about 3% below the 5-year average for this time of year. Propane-propylene inventories increased by 4.1 million bbl from last week and are 71% above the 5-year average. Total commercial petroleum inventories decreased by 2.1 million bbl.

US crude refinery inputs during the week averaged 16.4 million b/d, down 220,000 b/d from the previous week’s average. Refineries operated at 92.1% of their operable capacity.

Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production remained steady, averaging 5.0 million b/d.

US crude imports averaged 6.5 million b/d, down 10,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 6.6 million b/d, up 12.8% from the same 4-week period last year.

Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 502,000 b/d. Distillate fuel imports averaged 117,000 b/d last week.