US crude oil inventories for the week ended Jan. 3, excluding the Strategic Petroleum Reserve, increased by 1.2 million bbl from the previous week, according to data from the US Energy Information Administration.
At 431.1 million bbl, US crude oil inventories are at the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 9.1 million bbl and are 5% above the 5-year range for this time of year. Finished gasoline and blending component inventories both increased last week. Distillate fuel inventories increased by 5.3 million bbl and are about 8% below the 5-year average for this time of year.
Propane-propylene inventories increased by 700,000 bbl last week and are about 17% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.9 million b/d for the week ended Jan. 3, about 387,000 b/d less than the previous week’s average. Refineries operated at 93.0% of capacity.
Gasoline production decreased, averaging 8.9 million b/d. Distillate fuel production decreased, averaging 5.3 million b/d.
US crude oil imports averaged 6.7 million b/d, up by 379,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 12.7% less than the same period last year. Total motor gasoline imports averaged 401,000 b/d. Distillate fuel imports averaged 252,000 b/d.
