EIA: US crude inventories increase 2.9 million bbl

Oct. 9, 2019
US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 2.9 million bbl for the week ended Oct. 4, according to data from the US Energy Information Administration.

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 2.9 million bbl for the week ended Oct. 4, according to data from the US Energy Information Administration.

At 425.6 million bbl, US crude oil inventories are at the 5-year average for this time of year, the report indicated.

Separately, the American Petroleum Institute said its own estimates showed US crude inventories increased 4.1 million bbl week-over-week.

EIA said total motor gasoline inventories decreased by 1.2 million bbl and are about 2% above the 5-year range. Finished gasoline inventories and blending components inventories both decreased last week. Distillate fuel inventories decreased by 3.9 million bbl last week and are about 9% below the 5-year average for this time of year.

Propane-propylene inventories increased by 100,000 bbl last week and are about 14% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 15.7 million b/d for the week ended Oct. 4, about 361,000 b/d less than the previous week’s average. Refineries operated at 85.7% of capacity.

Gasoline production decreased, averaging 10.1 million b/d. Distillate fuel production increased, averaging 4.8 million b/d.

US crude oil imports averaged 6.2 million b/d, down by 67,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 16.8% less than the same period last year. Total motor gasoline imports averaged 642,000 b/d. Distillate fuel imports averaged 92,000 b/d.