EIA: US oil inventories decrease by 4.3 million bbl

US crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 4.3 million bbl during the week ended May 8 compared with the previous week’s total, according to the US Energy Information Administration’s (EIA) Petroleum Status Report.

At 452.9 million bbl, US crude inventories are about 0.3% below the 5-year average.

Total motor gasoline inventories decreased by 4.1 million bbl last week and are about 5% below the 5-year average. Finished gasoline inventories increased while blending components inventories decreased.

Distillate fuel inventories increased by 200,000 bbl and are about 9% below the 5-year average for this time of year. Propane-propylene inventories increased by 3.6 million bbl from last week and are 55% above the 5-year average. Total commercial petroleum inventories decreased by 5.1 million bbl.

US crude refinery inputs during the week averaged 16.4 million b/d, which was 369,000 b/d more than the previous week’s average. Refineries operated at 91.7% of their operable capacity.

Gasoline production increased, averaging 9.8 million b/d. Distillate fuel production decreased, averaging 4.8 million b/d.

US crude oil imports averaged 5.9 million b/d, up 424,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 5.8 million b/d, 1% more than the same 4-week period last year.

Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 303,000 b/d. Distillate fuel imports averaged 214,000 b/d.