EIA: US crude stockpiles dropped slightly last week

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, declined 600,000 bbl during the week ended Sept. 9 from the previous week’s total, the US Energy Information Administration reported.

At 510.8 million bbl, US crude inventories remain at historically high levels for this time of year, according to the Petroleum Status Report. During the week ended Sept. 2, crude stockpiles plunged 14.5 million bbl, EIA said a week ago (OGJ Online, Sept. 7, 2016).

A survey of analysts by the Wall Street Journal anticipated a 5.4 million-bbl increase for the week ended Sept. 9. Separately, the American Petroleum Institute’s data showed a 1.4 million-bbl rise for the week.

Total motor gasoline inventories last week gained 600,000 bbl, and are well above the upper limit of the average range. Finished gasoline inventories decreased while blending components inventories increased.

Distillate fuel inventories rose 4.6 million bbl, and are above the upper limit of the average range for this time of year. Propane-propylene inventories gained 2 million bbl, and are above the upper limit of the average range. Total commercial petroleum inventories increased 6 million bbl.

US crude refinery inputs during the week ended Sept. 9 averaged 16.7 million b/d, down 200,000 b/d from the previous week’s average. Refineries operated at 92.9% of their operable capacity.

Gasoline production and distillate fuel production both decreased last week to 9.9 million b/d and 4.9 million b/d, respectively.

US crude imports last week averaged 8.1 million b/d, up 993,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 8.2 million b/d, an increase of 10.1% from the same 4-week period last year.

Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 650,000 b/d. Distillate fuel imports averaged 140,000 b/d.

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