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Market Update : 
Crude Oil Inventories Advance
Author: 123jump.com Staff
123jump.com
Last Update: 11:55 AM EDT April 04 2007



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U.S. commercial crude oil inventories rose by 4.3 million barrels compared to the previous week. At 332.7 million barrels, U.S. crude oil inventories are above the upper end of the average range for this time of year. Total motor gasoline inventories declined by 5.0 million barrels last week, and are in the lower half 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 March 30, 2007

U.S. crude oil refinery inputs averaged about 14.8 million barrels per day during the week ending March 30, down 115,000 barrels per day from the previous week''s average. Refineries operated at 87.0% of their operable capacity last week. Gasoline production decreased compared to the previous week, averaging nearly 8.8 million barrels per day, while distillate fuel production increased slightly, averaging nearly 4.1 million barrels per day.

U.S. crude oil imports averaged over 10.2 million barrels per day last week, up 613,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.0 million barrels per day, or 196,000 barrels per day more 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 1.0 million barrels per day. Distillate fuel imports averaged 375,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 4.3 million barrels compared to the previous week. At 332.7 million barrels, U.S. crude oil inventories are above the upper end of the average range for this time of year. Total motor gasoline inventories declined by 5.0 million barrels last week, and are in the lower half of the average range. Distillate fuel inventories remained unchanged, and are slightly above the upper end of the average range for this time of year. Heating oil inventories (high-sulfur) fell last week, while diesel fuel inventories (the sum of ultra-low and low-sulfur) inventories reported a modest gain during this same time. Propane/propylene inventories fell by 0.1 million barrels last week.Total commercial petroleum inventories decreased by 2.7 million barrels last week, and are in the upper half of the average range for this time of year.

Total products supplied over the last four-week period has averaged nearly 21.0 million barrels per day, or 1.4 percent above the same period last year. Over the last four weeks, motor gasoline demand has averaged nearly 9.3 million barrels per day, or 1.7 percent above the same period last year. Distillate fuel demand has averaged nearly 4.4 million barrels per day over the last four weeks, down 1.9 percent compared to the same period last year. Jet fuel demand is up 3.8 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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