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Market Update : 
Crude and Distillate Inventories Fall Again
Author: 123jump.com Staff
123jump.com
Last Update: 10:58 AM EST November 28 2007



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U.S. commercial crude oil inventories dropped by 0.4 million barrels compared to the previous week. At 313.2 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories increased by 1.4 million barrels last week, and are below the lower end of the average range. Finished gasoline inventories fell last week while gasoline blending components rose during this period.

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


Summary of Weekly Petroleum Data for the Week Ending November 23, 2007

U.S. crude oil refinery inputs averaged nearly 15.5 million barrels per day during the week ending November 23, up 573,000 barrels per day from the previous week''s average. Refineries operated at 89.4 percent of their operable capacity last week. Gasoline production moved higher compared to the previous week, averaging 9.0 million barrels per day. Distillate fuel production rose last week, averaging 4.3 million barrels per day.

U.S. crude oil imports averaged nearly 10.4 million barrels per day last week, up 534,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 10.1 million barrels per day, or 144,000 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 835,000 barrels per day. Distillate fuel imports averaged 203,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 0.4 million barrels compared to the previous week. At 313.2 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories increased by 1.4 million barrels last week, and are below the lower end of the average range. Finished gasoline inventories fell last week while gasoline blending components rose during this period. Distillate fuel inventories decreased by 0.1 million barrels, but are in the middle of the average range for this time of year. Propane/propylene inventories increased by 0.3 million barrels last week. Total commercial petroleum inventories decreased by 1.8 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 20.9 million barrels per day, up by 0.9 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged nearly 9.3 million barrels per day, or 0.4 percent above the same period last year. Distillate fuel demand has averaged 4.4 million barrels per day over the last four weeks, up 5.1 percent compared to the same period last year. Jet fuel demand is 3.7 percent higher 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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