US crude oil inventories for the week ended Nov. 8, excluding the Strategic Petroleum Reserve, increased by 2.2 million bbl from the previous week, data from the US Energy Information Administration showed.
EIA released the Weekly Petroleum Status Report a day later than usual because of the closure of the federal government on Nov. 11 for the Veteran’s Day holiday.
At 449 million bbl, US crude oil inventories are about 3% above the 5-year average for this time of year, the report indicated.
EIA said total motor gasoline inventories increased by 1.9 million bbl and are about 2% above the 5-year range. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories decreased by 2.5 million bbl and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.5 million bbl last week and are about 10% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.9 million b/d for the week ended Nov. 8, about 154,000 b/d more than the previous week’s average. Refineries operated at 87.8% of capacity.
Gasoline production increased, averaging 10.2 million b/d. Distillate fuel production increased, averaging 5 million b/d.
US crude oil imports averaged 5.8 million b/d, down by 327,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.1 million b/d, 18.8% less than the same period last year. Total motor gasoline imports averaged 679,000 b/d. Distillate fuel imports averaged 236,000 b/d.