US crude oil inventories for the week ended Apr. 1, excluding the Strategic Petroleum Reserve, increased by 2.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 412.4 million bbl, US crude oil inventories are about 14% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.0 million bbl and are at the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories increased by 800,000 bbl and are about 15% below the 5-year average for this time of year.
Propane-propylene inventories increased 700,000 bbl last week and are about 21% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.9 million b/d for the week ended Apr. 1, about 35,000 b/d more than the previous week’s average. Refineries operated at 92.5% of capacity.
Gasoline production increased, averaging 9.1 million b/d. Distillate fuel production decreased, averaging 5.0 million b/d.
US crude oil imports averaged 6.3 million b/d, up 41,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 8.9% more than the same period last year. Total motor gasoline imports averaged 484,000 b/d. Distillate fuel imports averaged 88,000 b/d.
Mikaila Adams | Managing Editor - News
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was named Managing Editor - News in 2019. She holds a degree from Texas Tech University.