US commercial crude oil inventories fall by 2.8 million barrels in week ended July 18 to 364.2 million barrels, putting supplies in upper half of average range for this time of year: EIA

WASHINGTON , July 24, 2013 (press release) – U.S. crude oil refinery inputs averaged over 16.0 million barrels per day during the week ending July 19, 2013, 206 thousand barrels per day below the previous week’s average. Refineries operated at 92.3 percent of their operable capacity last week. Gasoline production increased last week, averaging over 9.2 million barrels per day. Distillate fuel production decreased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged over 8.0 million barrels per day last week, up by 327 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 7.7 million barrels per day, 1.3 million 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 322 thousand barrels per day. Distillate fuel imports averaged 168 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.8 million barrels from the previous week. At 364.2 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 decreased by 1.4 million barrels last week but are above the upper limit of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 1.2 million barrels last week and are near the lower limit of the average range for this time of year. Propane/propylene inventories increased by 1.5 million barrels last week and are in the upper half of the average range. Total commercial petroleum inventories decreased by 2.3 million barrels last week.

Total products supplied over the last four-week period averaged over 19.7 million barrels per day, up by 4.1 percent from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9.1 million barrels per day, up by 3.1 percent from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels per day over the last four weeks, up by 17.8 percent from the same period last year. Jet fuel product supplied is 8.7 percent higher over the last four weeks compared to the same four-week period last year.

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