US crude oil inventories for the week ended Mar. 7, excluding the Strategic Petroleum Reserve, increased by 1.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 435.2 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 decreased by 5.7 million bbl from last week and are 1% above the 5-year average for this time of year. Finished gasoline inventories and blending components inventories both decreased last week. Distillate fuel inventories decreased by 1.6 million bbl last week and are about 5% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 3.4 million bbl from last week and are 10% below the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 15.7 million b/d for the week ended Mar. 7, which was 321,000 b/d more than the previous week’s average. Refineries operated at 86.5% of capacity.
Gasoline production decreased, averaging 9.6 million b/d. Distillate fuel production decreased, averaging 4.5 million b/d.
US crude oil imports averaged 5.5 million b/d, down by 343,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 5.8 million b/d, 10.6% less than the same 4-week period last year. Total motor gasoline imports averaged 578,000 b/d. Distillate fuel imports averaged 249,000 b/d.
