US commercial crude oil inventories fell by 3.2 million barrels in week ended June 27 versus previous week to 384.9 million barrels, above upper limit of average range for this time of year: EIA

WASHINGTON , July 2, 2014 (press release) – U.S. crude oil refinery inputs averaged over 16.2 million barrels per day during the week ending June 27, 2014, 546,000 barrels per day more than the previous week’s average. Refineries operated at 91.45% of their operable capacity last week. Gasoline production increased last week, averaging over 9.4 million barrels per day. Distillate fuel production increased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged about 7.3 million barrels per day last week, down by 76,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.2 million barrels per day, 9.4% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 512,000 barrels per day. Distillate fuel imports averaged 79,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.2 million barrels from the previous week. At 384.9 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 1.2 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 increased by 1.0 million barrels last week but are near the lower limit of the average range for this time of year. Propane/propylene inventories rose 2.6 million barrels last week and are in the upper half of the average range. Total commercial petroleum inventories decreased by 0.4 million barrels last week.

Total products supplied over the last four-week period averaged 18.7 million barrels per day, down by 1.2% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 9.0 million barrels per day, up by 0.5% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels per day over the last four weeks, down by 8.0% from the same period last year. Jet fuel product supplied is up 6.3% compared to the same four-week period last year.

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