Categorized | Inventories

Weekly Inventories Data – October 6, 2010

Posted on 06 October 2010 by admin

U.S. crude oil refinery inputs averaged 14.2 million barrels per day during the week ending October 1, 515 thousand barrels per day below the previous week’s average. Refineries operated at 83.1 percent of their operable capacity last week. Gasoline production decreased last week, averaging 8.8 million barrels per day. Distillate fuel production decreased last week, averaging 4.2 million barrels per day.

U.S. crude oil imports averaged 8.9 million barrels per day last week, down by 79 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.1 million barrels per day, 262 thousand barrels per day below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 713 thousand barrels per day. Distillate fuel imports averaged 179 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.1 million barrels from the previous week. At 360.9 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 2.6 million barrels last week and are above the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week.

Distillate fuel inventories decreased by 1.1 million barrels and are above the upper boundary of the average range for this time of year. Propane/propylene inventories increased by 0.6 million barrels last week and are near the lower boundary of the average range. Total commercial petroleum inventories increased by 0.1 million barrels last week.

Total products supplied over the last four-week period has averaged 19.2 million barrels per day, up by 2.2 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 9.1 million barrels per day, up by 0.1 percent from the same period last year. Distillate fuel demand has averaged 3.8 million barrels per day over the last four weeks, up by 11.5 percent from the same period last year. Jet fuel demand is 1.6 percent higher over the last four weeks compared to the same four-week period last year.

The average world crude oil price on October 1, 2010 was $76.34 per barrel, $1.03 more than last week’s price and $11.34 above a year ago. The national average retail regular gasoline price increased to $2.732 per gallon on October 4, 2010, $0.038 per gallon more than last week and $0.264 above a year ago. The national average retail diesel fuel price increased to $3.000 per gallon, $0.049 per gallon above last week and $0.418 over a year ago.

Source: Energy Information Administration

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