EIA: US crude inventories down 1.4 million bbl

US crude oil inventories for the week ended Dec. 6, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, according to data from the US Energy Information Administration.

At 422.0 million bbl, US crude oil inventories are about 6% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 5.1 million bbl from last week and are about 4% below the 5-year average for this time of year. Finished gasoline inventories and blending components inventories both increased last week. Distillate fuel inventories increased by 3.2 million bbl last week and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 3.0 million bbl from last week and are 7% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.7 million b/d for the week ended Dec. 6, which was 251,000 b/d less than the previous week’s average. Refineries operated at 92.4% of capacity.
Gasoline production increased, averaging 10.0 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.

US crude oil imports averaged 6.0 million b/d, down by 1.3 million b/d from the previous week. Over the last 4 weeks, crude oil imports averaged about 6.8 million b/d, 2.5% more than the same 4-week period last year. Total motor gasoline imports averaged 464,000 b/d. Distillate fuel imports averaged 154,000 b/d.