US crude oil inventories for the week ended Mar. 3, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, according to data from the US Energy Information Administration.
At 478.5 million bbl, US crude oil inventories are 7% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 1.1 million bbl and are about 3% below the 5-year range for this time of year. Finished gasoline inventories increased, while blending component inventories decreased last week. Distillate fuel inventories increased by 100,000 bbl and are about 7% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 500,000 bbl and are about 34% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.0 million b/d for the week ended Mar. 3, about 12,000 b/d less than the previous week’s average. Refineries operated at 86.0% of capacity.
Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production decreased, averaging 4.5 million b/d.
US crude oil imports averaged 6.3 million b/d, up 63,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 1.4% more than the same period last year. Total motor gasoline imports averaged 446,000 b/d. Distillate fuel imports averaged 141,000 b/d.