EIA: US crude inventories up 1.8 million bbl

May 22, 2024
US crude oil inventories for the week ended May 17 increased by 1.8 million bbl from the previous week, according to data from the US EIA.

US crude oil inventories for the week ended May 17, excluding the Strategic Petroleum Reserve, increased by 1.8 million bbl from the previous week, according to data from the US Energy Information Administration.

At 458.8 million bbl, US crude oil inventories are about 3% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories decreased by 900,000 bbl from last week and are about 2% below the 5-year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 400,000 bbl last week and are about 7% below the 5-year average for this time of year.

Propane-propylene inventories increased by 2.2 million bbl from last week and are 14% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.5 million b/d for the week ended May 17, about 227,000 b/d more than the previous week’s average. Refineries operated at 91.7% of capacity.

Gasoline production increased, averaging 10.0 million b/d. Distillate fuel production increased, averaging 5.1 million b/d.

US crude oil imports averaged 6.7 million b/d, down 81,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.8 million b/d, 10.1% more than the same 4-week period last year. Total motor gasoline imports averaged 773,000 b/d. Distillate fuel imports averaged 98,000 b/d.