US crude oil inventories for the week ended June 28, excluding the Strategic Petroleum Reserve, decreased by 12.2 million bbl from the previous week, according to data from the US Energy Information Administration.
At 448.5 million bbl, US crude oil inventories are about 4% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.2 million bbl from last week and are 1% below the 5-year average for this time of year. Finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 1.5 million bbl last week and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories increased by 2.3 million bbl from last week and are 11% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 16.8 million b/d for the week ended June 28, which was 260,000 b/d more than the previous week’s average. Refineries operated at 93.5% of capacity.
Gasoline production increased, averaging 10.1 million b/d. Distillate fuel production increased, averaging 5.1 million b/d.
US crude oil imports averaged 6.5 million b/d, down 65,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.1 million b/d, 9.0% more than the same 4-week period last year. Total motor gasoline imports averaged 851,000 b/d. Distillate fuel imports averaged 94,000 b/d.
