US crude oil inventories for the week ended Nov. 1, excluding the Strategic Petroleum Reserve, increased by 7.9 million bbl from the previous week, according to data from the US Energy Information Administration.
At 446.8 million bbl, US crude oil inventories are 3% above the 5-year average for this time of year, the report indicated.
EIA said total motor gasoline inventories decreased by 2.8 million bbl and are 1% below the 5-year range for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 600,000 bbl and are about 9% below the 5-year average for this time of year.
Propane-propylene inventories increased by 300,000 bbl last week and are about 13% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.8 million b/d for the week ended Nov. 1, about 237,000 b/d less than the previous week’s average. Refineries operated at 86% of capacity.
Gasoline production decreased, averaging 10 million b/d. Distillate fuel production decreased, averaging 4.9 million b/d.
US crude oil imports averaged 6.1 million b/d, down by 620,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.2 million b/d, 17.4% less than the same period last year. Total motor gasoline imports averaged 493,000 b/d. Distillate fuel imports averaged 306,000 b/d.