US crude oil inventories for the week ended Jan. 17, excluding the Strategic Petroleum Reserve, decreased by 400,000 bbl from the previous week, according to data from the US Energy Information Administration.
EIA released the Weekly Petroleum Status Report a day later than normal because of the closure of the federal government on Monday, Jan. 20.
At 428.1 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 1.7 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 decreased by 1.2 million bbl and are about 2% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 1.4 million bbl last week and are about 27% 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. 17, about 116,000 b/d less than the previous week’s average. Refineries operated at 90.5% of capacity.
Gasoline production increased, averaging 9.5 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.
US crude oil imports averaged 6.4 million b/d, down 120,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 15.8% less than the same period last year. Total motor gasoline imports averaged 563,000 b/d. Distillate fuel imports averaged 320,000 b/d.
