Summary of Weekly Petroleum Data for the Week Ending November 24, 2006
U.S. crude oil refinery inputs averaged nearly 15.2 million barrels per day during the week ending November 24, up 169,000 barrels per day from the previous week''s average. Refineries operated at 88.1% of their operable capacity last week. Gasoline production increased last week compared to the previous week, averaging nearly 8.9 million barrels per day, while distillate fuel production inched lower, averaging over 4.0 million barrels per day.
U.S. crude oil imports averaged nearly 9.8 million barrels per day last week, down 732,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.9 million barrels per day, 217,000 less than averaged over the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 940,000 barrels per day. Distillate fuel imports averaged 298,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) declined by 0.3 million barrels compared to the previous week. At 340.8 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year. Total motor gasoline inventories dropped by 0.6 million barrels last week, and are at the lower end of the average range. Distillate fuel inventories fell by 1.0 million barrels, and are near the middle of the average range for this time of year.
A decline in high-sulfur distillate fuel (heating oil) inventories more than compensated for a slight rise in diesel fuel inventories (a combination of ultra-low-sulfur and low-sulfur). Total commercial petroleum inventories plummeted by 7.5 million barrels last week, and are just above the upper end of the average range for this time of year.
Total products supplied over the last four-week period has averaged nearly 21.0 million barrels per day, or 2.0% more than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged 9.2 million barrels per day, or 1.2% above the same period last year. Distillate fuel demand has averaged nearly 4.4 million barrels per day over the last four weeks, or 7.1% above the same period last year. Jet fuel demand is up 0.3% over the last four weeks compared to the same four-week period last year.
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