US crude oil inventories for the week ended June 24, excluding the Strategic Petroleum Reserve, decreased by 2.8 million bbl from the previous week, according to data from the US Energy Information Administration.
At 415.6 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 increased by 2.6 million bbl and are about 8% below 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 2.6 million bbl and are about 20% below the 5-year average for this time of year.
Propane-propylene inventories increased by 100,000 bbl last week and are about 16% below the 5-year average for this time of year, EIA said.
US refinery inputs averaged 16.7 million b/d for the week ended June 24, about 403,000 b/d more than the previous week’s average. Refineries operated at 95.0% of capacity.
Gasoline production increased, averaging 9.5 million b/d. Distillate fuel production decreased, averaging 5.1 million b/d.
US crude oil imports averaged 6.0 million b/d, down 200,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 5.1% less than the same period last year. Total motor gasoline imports averaged 824,000 b/d. Distillate fuel imports averaged 97,000 b/d.