US crude oil inventories for the week ended Aug. 23, excluding the Strategic Petroleum Reserve, decreased by 800,000 bbl from the previous week, according to data from the US Energy Information Administration.
At 425.2 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 about 3% below 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 300,000 bbl last week and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories increased by 1.0 million bbl from last week and are 12% 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 Aug. 23, which was 175,000 b/d more than the previous week’s average. Refineries operated at 93.3% of capacity.
Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production increased, averaging 5.0 million b/d.
US crude oil imports averaged 6.6 million b/d, down by 92,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.4 million b/d, 6.1% less than the same 4-week period last year. Total motor gasoline imports averaged 867,000 b/d. Distillate fuel imports averaged 220,000 b/d.