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U.S.Economy: 
Crude Oil Inventories Decline
Author: 123jump.com Staff
123jump.com
Last Update: 10:52 AM EST December 28 2006



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U.S. commercial crude oil inventories dropped by 8.1 million barrels compared to the previous week. However, at 321.0 million barrels, U.S. crude oil inventories remain above the upper end of the average range for this time of year. Total motor gasoline inventories rose by 3.0 million barrels last week, and are just above the lower end of the average range.

 
The following is the un-edited press release from the Energy Information Administration.


Summary of Weekly Petroleum Data for the Week Ending December 22, 2006

U.S. crude oil refinery inputs averaged over 15.6 million barrels per day during the week ending December 22, up 82,000 barrels per day from the previous week''s average. Refineries operated at 90.9 percent of their operable capacity last week. Gasoline production increased slightly last week compared to the previous week, averaging nearly 9.4 million barrels per day, while distillate fuel production also increased slightly, averaging nearly 4.3 million barrels per day.

U.S. crude oil imports averaged over 9.1 million barrels per day last week, up 227,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.5 million barrels per day, or 567,000 barrels less than averaged over the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 968,000 barrels per day. Distillate fuel imports averaged 431,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 8.1 million barrels compared to the previous week. However, at 321.0 million barrels, U.S. crude oil inventories remain above the upper end of the average range for this time of year. Total motor gasoline inventories rose by 3.0 million barrels last week, and are just above the lower end of the average range.

Distillate fuel inventories increased by 0.5 million barrels, and are in the middle of the average range for this time of year. A decrease in high-sulfur distillate fuel (heating oil) inventories was more than compensated by an increase in diesel fuel inventories (a combination of ultra-low-sulfur and low-sulfur). Total commercial petroleum inventories fell by 7.4 million barrels last week, and are just above the upper end of the average range for this time of year.

Total products supplied over the last four-week period has averaged over 21.0 million barrels per day, or 1.1 percent less than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged 9.4 million barrels per day, or 1.6 percent above the same period last year. Distillate fuel demand has averaged over 4.3 million barrels per day over the last four weeks, or 1.0 percent above the same period last year. Jet fuel demand is down 6.7 percent over the last four weeks compared to the same four-week period last year.


Available at:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt
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