US crude oil inventories for the week ended Mar. 24, excluding the Strategic Petroleum Reserve, decreased by 7.5 million bbl from the previous week, according to data from the US Energy Information Administration.
At 473.7 million bbl, US crude oil inventories are 6% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 2.9 million bbl and are about 4% below the 5-year range for this time of year. Finished gasoline inventories increased, while blending component inventories decreased last week. Distillate fuel inventories increased by 300,000 bbl and are about 9% below the 5-year average for this time of year.
Propane-propylene inventories decreased by 2.5 million bbl and are about 34% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 15.8 million b/d for the week ended Mar. 24, about 437,000 b/d more than the previous week’s average. Refineries operated at 90.3% of capacity.
Gasoline production increased, averaging 10.0 million b/d. Distillate fuel production increased, averaging 4.6 million b/d.
US crude oil imports averaged 5.3 million b/d, down 847,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.0 million b/d, 5.8% less than the same period last year. Total motor gasoline imports averaged 873,000 b/d. Distillate fuel imports averaged 146,000 b/d.