EIA: US crude stocks up 1.9 million bbl

US commercial crude oil inventories, which exclude the Strategic Petroleum Reserve, increased 1.9 million bbl during the week ended Feb. 2 from the previous week.

US commercial crude oil inventories, which exclude the Strategic Petroleum Reserve, increased 1.9 million bbl during the week ended Feb. 2 from the previous week.

The latest estimate is 420.3 million bbl, which puts oil in storage in the middle of the average range for this time of year, the US Energy Information Administration said.

The report also said total motor gasoline inventories increased 3.4 million bbl and are in the middle of the average range. Both blending components and finished gasoline inventories increased last week. Distillate fuel inventories increased by 3.9 million bbl last week and are in the middle of the average range for this time of year.

Propane-propylene inventories decreased 4.1 million bbl but are in the middle of the average range, EIA said.

US refinery inputs averaged 16.8 million b/d for the week ended Feb. 2, up 784,000 b/d from the previous week’s average. Refineries operated at 92.5% of capacity.

Gasoline production increased, averaging 10.1 million b/d. Distillate fuel production increased, averaging 5.1 million b/d.

US crude oil imports averaged 7.9 million b/d, down by 538,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 8.1 million b/d, 4.5% less than the same period last year. Total motor gasoline imports averaged 746,000 b/d. Distillate fuel imports averaged 313,000 b/d.

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