EIA: US crude inventories decrease 5.8 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.8 million bbl for the week ended the 17^th August, according to data from the US Energy Information Administration.

At 408.4 million bbl, US crude oil inventories are at the 5-year average for this time of year, the Weekly Petroleum Status Report indicated.

The report said total motor gasoline inventories increased by 1.2 million and are about 6% above the five-year range. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories increased by 1.8 million bbl last week and are about 7% below the five-year average for this time of year.

Propane-propylene inventories decreased by 900,00 bbl last week and are 13% below the five-year average for this time of year, EIA said.

US refinery inputs averaged 17.9 million b/d for the week ended the 17^th August, about 89,000 b/d less than the previous week’s average.

Refineries operated at 98.1% of capacity.

Gasoline production decreased, averaging 10.2 million b/d. Distillate fuel production increased, averaging 5.4 million b/d.

US crude oil imports averaged 7.5 million b/d, down by a rounded 1.5 million b/d from the previous week.

Over the last four weeks, crude oil imports averaged 8.1 million b/d, 2.2% less than the same period last year. Total motor gasoline imports averaged 817,000 b/d. Distillate fuel imports averaged 145,000 b/d.

Source: Oil & Gas Journal