US commercial crude oil inventories fall by 4.7 million barrels in week ended Dec. 20 from previous week to 367.6 million barrels, near upper limit of average range for this time of year: EIA
December 27, 2013
– U.S. crude oil refinery inputs averaged over 16.2 million barrels per day during the week ending December 20, 2013, 302 thousand barrels per day higher than the previous week’s average. Refineries operated at 92.7% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production increased last week, averaging 5.1 million barrels per day.
U.S. crude oil imports averaged over 7.5 million barrels per day last week, down by 197 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.5 million barrels per day, 9.7% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 486 thousand barrels per day. Distillate fuel imports averaged 175 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.7 million barrels from the previous week. At 367.6 million barrels, U.S. crude oil inventories are near the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 0.6 million barrels last week, and are in the upper half of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 1.9 million barrels last week and are below the lower limit of the average range for this time of year. Propane/propylene inventories fell 2.5 million barrels last week and are well below the lower limit of the average range. Total commercial petroleum inventories decreased by 12.7 million barrels last week.
Total products supplied over the last four-week period averaged 20.0 million barrels per day, up by 5.3% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 8.9 million barrels per day, up by 3.9% from the same period last year. Distillate fuel product supplied averaged over 3.8 million barrels per day over the last four weeks, up by 1.0% from the same period last year. Jet fuel product supplied is up 1.3% compared to the same four-week period last year.