US commercial crude oil inventories rose by 1.7 million barrels in week ended May 23 from previous week, to 393 million barrels, in upper half of average range for this time of year: EIA

WASHINGTON , May 30, 2014 (press release) – U.S. crude oil refinery inputs averaged about 15.9 million barrels per day during the week ending May 23, 2014, 98,000 barrels per day less than the previous week’s average. Refineries operated at 89.9% of their operable capacity last week. Gasoline production decreased last week, averaging over 9.5 million barrels per day. Distillate fuel production decreased slightly last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged 7.8 million barrels per day last week, up by over 1.3 million barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.1 million barrels per day, 9.3% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 725,000 barrels per day. Distillate fuel imports averaged 148,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.7 million barrels from the previous week. At 393.0 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 1.8 million barrels last week, and are in the middle of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 0.2 million barrels last week and are below the lower limit of the average range for this time of year. Propane/propylene inventories rose 2.2 million barrels last week and are in the middle of the average range. Total commercial petroleum inventories increased by 3.2 million barrels last week.

Total products supplied over the last four-week period averaged 19.1 million barrels per day, up by 2.2% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9.1 million barrels per day, up by 5.4% from the same period last year. Distillate fuel product supplied averaged over 4.1 million barrels per day over the last four weeks, up by 8.6% from the same period last year. Jet fuel product supplied is down 1.6% compared to the same four-week period last year.

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