US crude oil inventories for the week ended Sept. 4, excluding the Strategic Petroleum Reserve, increased by 2.0 million bbl from the previous week, according to data from the US Energy Information Administration.
The report was issued a day later than usual because of the US Labor Day holiday on Monday, Sept. 7.
At 500.4 million bbl, US crude oil inventories are 14% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 3.0 million bbl and are 3% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories decreased by 1.7 million bbl and are about 20% above the 5-year average for this time of year.
Propane-propylene inventories increased by 2.2 million bbl last week and are about 12% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 12.8 million b/d for the week ended Sept. 4, about 1.1 million b/d less than the previous week’s average. Refineries operated at 71.8% of capacity.
Gasoline production decreased, averaging 8.9 million b/d. Distillate fuel production decreased, averaging 4.4 million b/d.
US crude oil imports averaged 5.4 million b/d, up 500,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.5 million b/d, 17.9% less than the same period last year. Total motor gasoline imports averaged 574,000 b/d. Distillate fuel imports averaged 160,000 b/d.