EIA: US crude inventories up 1.9 million bbl

US crude oil inventories for the week ended Mar. 19, excluding the Strategic Petroleum Reserve, increased by 1.9 million bbl from the previous week, according to data from the US Energy Information Administration.

At 502.7 million bbl, US crude oil inventories are about 6% above the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 200,000 bbl from last week and are about 3% below the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories increased by 3.8 million bbl last week and are about 1% above the 5-year average for this time of year.

Propane-propylene inventories increased by 200,000 and are about 13% below the 5-year average for this time of year, EIA said.

US refinery inputs averaged 14.4 million b/d for the week ended Mar. 19, about 1.0 million b/d more than the previous week’s average. Refineries operated at 81.6% of capacity.

Gasoline production decreased, averaging 8.6 million b/d. Distillate fuel production increased, averaging 4.6 million b/d.

US crude oil imports averaged 5.6 million b/d, up 300,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 5.7 million b/d, 9.5% less than the same period last year. Total motor gasoline imports averaged 939,000 b/d. Distillate fuel imports averaged 664,000 b/d.

Online Article Here