US crude oil inventories for the week ended Mar. 21, excluding the Strategic Petroleum Reserve, decreased by 3.3 million bbl from the previous week, according to data from the US Energy Information Administration (EIA).
At 433.6 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 1.4 million bbl from last week and are 2% above the 5-year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 400,000 bbl last week and are about 7% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 200,000 bbl from last week and are 11% below the 5-year average for this time of year, EIA said.
US crude oil refinery inputs averaged 15.8 million b/d for the week ended Mar. 21, which was 87,000 b/d more than the previous week’s average. Refineries operated at 87.0% of capacity.
Gasoline production decreased, averaging 9.2 million b/d. Distillate fuel production decreased, averaging 4.5 million b/d.
US crude oil imports averaged 6.2 million b/d, up by 810,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 5.7 million b/d, 11% less than the same 4-week period last year. Total motor gasoline imports averaged 589,000 b/d. Distillate fuel imports averaged 120,000 b/d.
