January 29, 2024 [Oil & Gas Journal]- US crude oil inventories for the week ended Jan. 19 decreased by 9.2 million bbl from the previous week, according to data from the US EIA.

US crude oil inventories for the week ended Jan. 19, excluding the Strategic Petroleum Reserve, decreased by 9.2 million bbl from the previous week, according to data from the US Energy Information Administration.

At 420.7 million bbl, US crude oil inventories are about 5% below the 5-year average for this time of year, the EIA report indicated.

EIA said total motor gasoline inventories increased by 4.9 million bbl from last week and are about 1% above the 5-year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 1.4 million bbl and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories decreased by 8.4 million bbl from last week and are 4% above the 5-year average for this time of year, EIA said.

US crude oil refinery inputs averaged 15.3 million b/d for the week ended Jan. 19, about 1.4 million b/d less than the previous week’s average. Refineries operated at 85.5% of capacity.

Gasoline production decreased, averaging 8.3 million b/d. Distillate fuel production decreased, averaging 4.5 million b/d.

US crude oil imports averaged 5.6 million b/d, down by 1.8 million from the previous week. Over the last 4 weeks, crude oil imports averaged 6.5 million b/d, 5.3% more than the same 4-week period last year. Total motor gasoline imports averaged 628,000 b/d. Distillate fuel imports averaged 201,000 b/d.

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