US crude oil inventories for the week ended Dec. 20, excluding the Strategic Petroleum Reserve, decreased by 4.2 million bbl from the previous week, according to data from the US Energy Information Administration.
The data was released 2 days later than usual due to the closure of the Federal government on Dec. 24 and Dec. 25.
At 416.8 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 1.6 million bbl from last week and are about 3% below the 5-year average for this time of year. Finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased by 1.7 million bbl and are about 10% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 4.5 million bbl from last week and are 9% 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 Dec. 20, which was 205,000 b/d more than the previous week’s average. Refineries operated at 92.5% of capacity.
Gasoline production increased, averaging 9.9 million b/d. Distillate fuel production increased, averaging 5.3 million b/d.
US crude oil imports averaged 6.5 million b/d, down 178,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 2.2% less than the same 4-week period last year. Total motor gasoline imports averaged 657,000 b/d. Distillate fuel imports averaged 180,000 b/d.
