US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 12.6 million bbl for the week ended July 6, according to US Energy Information Administration data.
At 405.2 million bbl, US crude oil inventories are about 4% below the 5-year average for this time of year, the Weekly Petroleum Status Report indicated.
The report said total motor gasoline inventories decreased by 0.7 million bbl and are 6% above the 5-year range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 4.1 million bbl last week and are 12% below the 5-year average for this time of year.
Propane-propylene inventories increased 2.4 million bbl last week and are 10% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 17.7 million b/d for the week ended July 6, about 1,000 b/d less than the previous week’s average. Refineries operated at 96.7% of capacity.
Gasoline production increased, averaging 10.7 million b/d. Distillate fuel production decreased, averaging 5.4 million b/d.
US crude oil imports averaged 7.4 million b/d, down by a rounded 1.6 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 8.3 million b/d, 5.9% more than the same period last year. Total motor gasoline imports averaged 853,000 b/d. Distillate fuel imports averaged 104,000 b/d.