EIA: US crude inventories up 1.6 million bbl

US crude oil inventories for the week ended Nov. 24, excluding the Strategic Petroleum Reserve, increased by 1.6 million bbl from the previous week, according to data from the US Energy Information Administration, Report informs via Oil and Gas Journal.

At 449.7 million bbl, US crude oil inventories are slightly above the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 1.8 million bbl from last week and are about 2% below the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both increased last week. Distillate fuel inventories increased by 5.2 million bbl and are about 11% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 500,000 bbl from last week and are 17% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 16.0 million b/d for the week ended Nov. 24, about 518,000 b/d more than the previous week’s average. Refineries operated at 89.8% of capacity.

Gasoline production decreased, averaging 9.3 million b/d. Distillate fuel production increased, averaging 5.0 million b/d.

US crude oil imports averaged 5.8 million b/d, down 696,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.3 million b/d, 0.1% more than the same period four-week period last year. Total motor gasoline imports averaged 463,000 b/d. Distillate fuel imports averaged 95,000 b/d.