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Market Update : 
Gasoline and Crude Supplies Decline
Author: 123jump.com Staff
123jump.com
Last Update: 11:06 AM EDT June 28 2006



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U.S. crude oil refinery inputs averaged over 16.1 million barrels per day during the week ending June 23, up 156,000 barrels per day from the previous week''''s average. Refineries operated at 93.8% of their operable capacity last week. Gasoline production dropped slightly last week compared to the previous week, averaging over 9.3 million barrels per day, while distillate fuel production increased slightly, averaging over 4.2 million barrels per day.

 
The following is the unedited transcript of the news release from the Energy Information Administration.

Summary of Weekly Petroleum Data for the Week Ending June 23, 2006

U.S. crude oil refinery inputs averaged over 16.1 million barrels per day during the week ending June 23, up 156,000 barrels per day from the previous week''s average. Refineries operated at 93.8% of their operable capacity last week. Gasoline production dropped slightly last week compared to the previous week, averaging over 9.3 million barrels per day, while distillate fuel production increased slightly, averaging over 4.2 million barrels per day.

U.S. crude oil imports averaged over 10.5 million barrels per day last week, down 448,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.7 million barrels per day, an increase of 165,000 barrels per day from the comparable four weeks last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 958,000 barrels per day. Distillate fuel imports averaged 264,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 3.4 million barrels from the previous week. However, at 343.7 million barrels, U.S. crude oil inventories are well above the upper end of the average range for this time of year. Total motor gasoline inventories fell by 1.0 million barrels last week, and are in the middle of the average range.

Distillate fuel inventories rose by 1.8 million barrels and are above the upper end of the average range for this time of year. A large increase in ultra-low sulfur diesel fuel more than compensated a decline in regular diesel fuel (15 ppm to 500 ppm sulfur), while high sulfur distillate fuel (heating oil) inventories rose by 1.2 million barrels. Total commercial petroleum inventories inched up by 0.6 million barrels last week, and are above the upper end of the average range for this time of year.

Total products supplied over the last four-week period has averaged nearly 20.8 million barrels per day, or 1.0% less than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged over 9.4 million barrels per day, or 0.9% above the same period last year.

Distillate fuel demand has averaged nearly 4.1 million barrels per day over the last four weeks, or 1.0% above the same period last year. Jet fuel demand is up 0.6% 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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