US crude oil inventories for the week ended May 6, excluding the Strategic Petroleum Reserve, increased by 8.5 million bbl from the previous week, according to data from the US Energy Information Administration.
At 424.2 million bbl, US crude oil inventories are about 13% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 3.6 million bbl and are about 5% below the 5-year range for this time of year. Finished gasoline inventories increased while blending component inventories decreased last week. Distillate fuel inventories decreased by 900,000 bbl and are about 23% below the 5-year average for this time of year.
Propane-propylene inventories increased by 3.4 million bbl last week and are about 8% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.7 million b/d for the week ended May 6, about 230,000 b/d more than the previous week’s average. Refineries operated at 90.0% of capacity.
Gasoline production increased, averaging 9.7 million b/d. Distillate fuel production increased, averaging 4.9 million b/d.
US crude oil imports averaged 6.3 million b/d, down 62,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.1 million b/d, 6.2% more than the same period last year. Total motor gasoline imports averaged 695,000 b/d. Distillate fuel imports averaged 122,000 b/d.