EIA: US crude stockpiles up 5.3 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 5.3 million bbl during the week ended Nov. 11 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report.

At 490.3 million bbl, US crude inventories are above the upper limit of the average range for this time of year.

Analysts surveyed by The Wall Street Journal expected a 1.1 million-bbl increase during the week. Separate data from the American Petroleum Institute showed a 3.7 million-bbl rise.

EIA for the week ended Nov. 4 reported a build of 2.4 million bbl (OGJ Online, Nov. 9, 2016).

Total motor gasoline inventories during the week ended Nov. 11 rose 700,000 bbl and are well above the upper limit of the average range, EIA said. Finished gasoline inventories decreased while blending components inventories increased.

Distillate fuel inventories climbed 300,000 bbl and are well above the upper limit of the average range for this time of year. Propane-propylene inventories rose 1.2 million bbl and are near the upper limit of the average range. Total commercial petroleum inventories increased 7.1 million bbl.

US crude refinery inputs averaged 16.1 million b/d during the week ending Nov. 11, up 309,000 b/d from the previous week’s average. Refineries operated at 89.2% of their operable capacity.

Gasoline production decreased to 10.2 million b/d while distillate fuel production increased to 5 million b/d.

US crude imports averaged more than 8.4 million b/d, up 981,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 8 million b/d, an increase of 12.6% from the same 4-week period last year.

Total motor gasoline imports, including both finished gasoline and gasoline-blending components, averaged 821,000 b/d. Distillate fuel imports averaged 169,000 b/d last week.

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