EIA: US crude stockpiles gain 4.1 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 4.1 million bbl during the week ended Jan. 6 from the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report.

At 483.1 million bbl, US crude inventories are at the upper limit of the average range for this time of year. US crude stockpiles ended 2016 with a 7.1 million-bbl drop (OGJ Online, Jan. 5, 2016).

Analysts and traders surveyed by The Wall Street Journal expected inventories to increase 700,000 bbl during the week ended Jan. 6.

Separate data for the week from the American Petroleum Institute showed a 1.5 million-bbl gain.

Gasoline, distillate inventories rise

Total motor gasoline inventories increased 5 million bbl, and are at the upper limit of the average range. Both finished gasoline inventories and blending components inventories rose.

Distillate fuel inventories jumped 8.4 million bbl, and are above the upper limit of the average range for this time of year. Propane-propylene inventories fell 4.5 million bbl, but are in the upper half of the average range. Total commercial petroleum inventories increased 13.4 million bbl.

US crude refinery inputs during the week ended Jan. 6 averaged 17.1 million b/d, up 418,000 b/d from the previous week’s average. Refineries operated at 93.6% of their operable capacity last week.

Gasoline production increased to 9.7 million b/d, while distillate fuel production remained unchanged at 5.3 million b/d.

US crude imports averaged 9.1 million b/d, up 1.9 million b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 8.2 million b/d, up 6.3% from the same 4-week period last year.

Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 683,000 b/d. Distillate fuel imports averaged 103,000 b/d last week.

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