US crude oil inventories for the week ended Feb. 16, excluding the Strategic Petroleum Reserve, increased by 3.5 million bbl from the previous week, according to data from the US Energy Information Administration.
The data was released a day later than usual due to the closure of the government for the federal holiday Monday, Feb. 19.
At 443.0 million bbl, US crude oil inventories are about 2% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 300,000 bbl from last week and are about 2% below the 5-year average for this time of year. Finished gasoline inventories decreased, while blending components inventories increased last week. Distillate fuel inventories decreased by 4.0 million bbl and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.3 million bbl from last week and are 4% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 14.6 million b/d for the week ended Feb. 16, about 31,000 b/d more than the previous week’s average. Refineries operated at 80.6% of capacity.
Gasoline production decreased, averaging 9.0 million b/d. Distillate fuel production increased, averaging 4.2 million b/d.
US crude oil imports averaged 6.7 million b/d, up 184,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.4 million b/d, 4.7% less than the same 4-week period last year. Total motor gasoline imports averaged 734,000 b/d. Distillate fuel imports averaged 245,000 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.