US crude oil inventories for the week ended Aug. 30, excluding the Strategic Petroleum Reserve, decreased by 6.9 million bbl from the previous week, according to data from the US Energy Information Administration.
The report was released a day later than usual due to the US Labor Day holiday Monday, Sept. 2.
At 418.3 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 800,000 bbl from last week and are about 2% below the 5-year average for this time of year. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories decreased by 400,000 bbl last week and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories increased by 2.6 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. 30, which was 36,000 b/d more than the previous week’s average. Refineries operated at 93.3% of capacity.
Gasoline production increased, averaging 9.7 million b/d. Distillate fuel production increased, averaging 5.2 million b/d.
US crude oil imports averaged 5.8 million b/d, down by 768,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.3 million b/d, 8% less than the same 4-week period last year. Total motor gasoline imports averaged 655,000 b/d. Distillate fuel imports averaged 182,000 b/d.
