EIA: US crude inventories up 4.4 million bbl

At 428.8 million bbl, US crude oil inventories match the 5-year average for this time of year.

US crude oil inventories for the week ended Aug. 14, excluding the Strategic Petroleum Reserve, increased by 4.4 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 match the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 700,000 bbl from last week and are about 5% below 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 1.5 million bbl last week and are about 13% below the 5-year average for this time of year.

Propane-propylene inventories increased by 2.0 million bbl from last week and are 31% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 17.4 million b/d for the week ended Aug. 14, about 215,000 b/d more than the previous week’s average. Refineries operated at 97.2% of capacity.

Gasoline production increased, averaging 9.7 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.

US crude oil imports averaged 6.6 million b/d, down 746,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 1.2% more than the same 4-week period last year. Total motor gasoline imports averaged 366,000 b/d. Distillate fuel imports averaged 109,000 b/d.

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