EIA: US crude inventories up 3.1 million bbl

US crude oil inventories for the week ended Apr. 3, excluding the Strategic Petroleum Reserve, increased by 3.1 million bbl from the previous week, according to data from the US Energy Information Administration (EIA).

At 464.7 million bbl, US crude oil inventories are about 2% above the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 1.6 million bbl from last week and are about 3% above the 5-year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 3.1 million bbl last week and are about 5% below the 5-year average for this time of year.

Propane-propylene inventories increased by 600,000 bbl from last week and are 71% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.3 million b/d for the week ended Apr. 3, which was 129,000 b/d less than the previous week’s average. Refineries operated at 92% of capacity.

Gasoline production decreased, averaging 9.4 million b/d. Distillate fuel production increased, averaging 5.0 million b/d.

US crude oil imports averaged 6.3 million b/d, down 130,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.6 million b/d, 9.1% more than the same 4-week period last year. Total motor gasoline imports averaged 571,000 b/d. Distillate fuel imports averaged 152,000 b/d.