US crude oil inventories for the week ended July 12, excluding the Strategic Petroleum Reserve, decreased by 4.9 million bbl from the previous week, according to data from the US Energy Information Administration.
At 440.2 million bbl, US crude oil inventories are about 5% below the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories increased by 3.3 million bbl from last week and are slightly above the 5-year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories increased by 3.5 million bbl last week and are about 7% below the 5-year average for this time of year.
Propane-propylene inventories increased by 4.6 million bbl from last week and are 16% above the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 16.9 million b/d for the week ended July 12, which was 181,000 b/d less than the previous week’s average. Refineries operated at 93.7% of capacity.
Gasoline production decreased, averaging 9.5 million b/d. Distillate fuel production increased, averaging 5.2 million b/d.
US crude oil imports averaged 7.0 million b/d, up 277,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.7 million b/d, 1.1% more than the same 4-week period last year. Total motor gasoline imports averaged 728,000 b/d. Distillate fuel imports averaged 108,000 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.
