Summary of Weekly Petroleum Data for the week ending Dec. 4
Production: U.S. crude oil refinery inputs averaged 13.9 mln bpd during the week ending Dec. 4, 77,000 bpd above the previous week's avg. Refineries operated at 81.1% of their operable capacity last week. Gasoline production increased last week, averaging 9.2 mln bpd. Distillate fuel production increased last week, averaging 4.0 mln bpd.
Imports: U.S. crude oil imports averaged 8.1 mln bpd last week, down 264,000 bpd from the previous week. Over the last four weeks, crude oil imports have averaged 8.5 mln bpd, 1.4 mln bpd below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 750,000 bpd. Distillate fuel imports averaged 185,000 bpd last week.
Inventory: At 336.1 mln barrels, U.S. crude oil inventories are above the upper limit of the avg range for this time of year. Total motor gasoline inventories increased by 2.2 mln barrels last week, and are above the upper limit of the avg range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 1.6 mln barrels, and are above the upper boundary of the avg range for this time of year. Propane/propylene inventories decreased by 1.3 mln barrels last week and are near the lower limit of the avg range. Total commercial petroleum inventories decreased by 4.3 mln barrels last week, and are above the upper limit of the avg range for this time of year.
Demand: Over the last four weeks, motor gasoline demand has averaged 9.0 mln bpd, up by 1.2% from the same period last year. Distillate fuel demand has averaged 3.5 mln bpd over the last four weeks, down by 8.3% from the same period last year.
