US crude oil inventories for the week ended May 1, excluding the Strategic Petroleum Reserve, increased by 4.6 million bbl from the previous week, according to data from the US Energy Information Administration.
At 532.2 million bbl, US crude oil inventories are 12% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 3.2 million bbl and are 9% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories increased by 9.5 million bbl and are about 12% above the 5-year average for this time of year.
Propane-propylene inventories increased by 2.5 million bbl last week and are about 14% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 13.0 million b/d for the week ended May 1, about 216,000 b/d more than the previous week’s average. Refineries operated at 70.5% of capacity.
Gasoline production decreased, averaging 6.7 million b/d. Distillate fuel production increased, averaging 5.1 million b/d.
US crude oil imports averaged 5.7 million b/d, up 410,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.4 million b/d, 20.6% less than the same period last year. Total motor gasoline imports averaged 368,000 b/d. Distillate fuel imports averaged 336,000 b/d.