Looks like the US is still having a tough time securing oil, total petro inventories now 60.2 million barrels below five year average.
Summary of Weekly Petroleum Data for the Week Ending December 26, 2003
U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the
week ending December 26, up 19,000 barrels per day from the previous week. An
increase in the Midwest (PADD II) was countered by declines in other regions,
most notably the East Coast (PADD I) and the Gulf Coast (PADD III).
U.S. crude oil imports averaged over 9.4 million barrels per day last week, down
77,000 barrels per day from the previous week, with the decrease centered on the
Gulf Coast (PADD III). Crude oil imports have averaged 9.4 million barrels per
day over the last four weeks. Although the origins of weekly crude oil imports
are preliminary and thus not published, it appears that crude oil imports from
Saudi Arabia have been relatively low the last two weeks. Distillate fuel
imports averaged 269,000 barrels per day last week, down 28,000 barrels per day
from the previous week. Total motor gasoline imports (including both finished
gasoline and gasoline blending components) declined sharply, averaging just
583,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) fell by 3.8 million barrels last week, more than reversing
the increase seen in the previous week. At 270.7 million barrels, U.S. crude
oil inventories are 27.4 million barrels less than the 5-year average for this
time of year. Distillate fuel inventories rose by 0.7 million barrels, with an
increase in low-sulfur (diesel fuel) distillate fuel more than offsetting a
decrease in high-sulfur (heating oil) distillate fuel. At 129.1 million
barrels, distillate fuel inventories are 6.6 million barrels below the 5-year
average for this time of year. Motor gasoline inventories increased by 0.6
million barrels last week, and are 1.6 million barrels less than the 5-year
average. Total commercial petroleum inventories are 60.2 million barrels less
than the 5-year average. |
