EIA: US crude inventories up 1.6 million bbl

Nov. 27, 2019
US crude oil inventories for the week ended Nov. 22, excluding the Strategic Petroleum Reserve, increased by 1.6 million bbl from the previous week, according to data from the US Energy Information Administration.

US crude oil inventories for the week ended Nov. 22, excluding the Strategic Petroleum Reserve, increased by 1.6 million bbl from the previous week, according to data from the US Energy Information Administration.

Separately, the American Petroleum Institute said its own estimates showed US crude inventories increased 3.6 million bbl for the week.

At 452.0 million bbl, US crude oil inventories are 3% above the 5-year average for this time of year, EIA’s report indicated.

EIA said total motor gasoline inventories increased by 5.1 million bbl and are 4% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories increased 700,000 bbl and are about 12% below the 5-year average for this time of year.

Propane-propylene inventories decreased 700,000 bbl last week and are about 6% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 16.3 million b/d for the week ended Nov. 22, about 101,000 b/d less than the previous week’s average. Refineries operated at 89.3% of capacity.

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

US crude oil imports averaged 6.2 million b/d, up 217,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.0 million b/d, 21.9% less than the same period last year. Total motor gasoline imports averaged 773,000 b/d. Distillate fuel imports averaged 238,000 b/d.