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Market Update : 
Crude Oil Inventories Decline
Author: 123jump.com Staff
123jump.com
Last Update: 10:45 AM EST January 09 2008



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U.S. commercial crude oil inventories dropped by 6.8 million barrels compared to the previous week. At 282.8 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories increased by 5.3 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week.

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


Summary of Weekly Petroleum Data for the Week Ending January 4, 2007

U.S. crude oil refinery inputs averaged nearly 15.8 million barrels per day during the week ending January 4, up 389,000 barrels per day from the previous week''s average. Refineries operated at 91.3 percent of their operable capacity last week. Gasoline production moved higher compared to the previous week, averaging 9.1 million barrels per day. Distillate fuel production rose last week, averaging nearly 4.5 million barrels per day.

U.S. crude oil imports averaged 9.8 million barrels per day last week, down 203,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.7 million barrels per day, or 60,000 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 131,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 6.8 million barrels compared to the previous week. At 282.8 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories increased by 5.3 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week. Distillate fuel inventories increased by 1.5 million barrels, and are in the lower half of the average range for this time of year. Propane/propylene inventories decreased by 3.2 million barrels last week. Total commercial petroleum inventories decreased by 8.1 million barrels last week, and are in the bottom half of the average range for this time of year.

Total products supplied over the last four-week period has averaged 21.3 million barrels per day, up by 2.6 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 9.3 million barrels per day, or 0.4 percent above the same period last year. Distillate fuel demand has averaged nearly 4.5 million barrels per day over the last four weeks, up 4.9 percent compared to the same period last year. Jet fuel demand is 3.1 percent lower 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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