Crude and Distillates Fall in Week to 24 DEC 2004.
Crude futures up a buck on the news. XOI rallying.
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eia.doe.gov
Summary of Weekly Petroleum Data for the Week Ending December 24, 2004
U.S. crude oil refinery inputs averaged over 15.7 million barrels per day during
the week ending December 24, up 147,000 barrels per day from the previous week's
average. Refineries operated at 94.2 percent of their operable capacity last
week. Gasoline production set a weekly record last week, averaging nearly 9.2
million barrels per day. Distillate fuel production averaged nearly 4.2 million
barrels per day, which included an increase in high-sulfur distillate fuel
(heating oil) production.
U.S. crude oil imports averaged nearly 9.9 million barrels per day last week,
down 682,000 barrels per day from the previous week. Over the last four weeks
crude oil imports have averaged over 10.4 million barrels per day, which is
785,000 barrels per day more than averaged over the comparable four weeks last
year. Although the origins of weekly crude oil imports are preliminary and thus
not published, it appears that the amount of imports from Iraq were relatively
high last week, while those from Saudi Arabia were lower than average.
Distillate fuel imports averaged 221,000 barrels per day last week, while total
motor gasoline imports (including both finished gasoline and gasoline blending
components) increased, averaging 989,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) fell by 0.8 million barrels from the previous week. At 295.1
million barrels, U.S. crude oil inventories are in the upper half of the average
range for this time of year. Distillate fuel inventories decreased by 0.8
million barrels last week, and remain just below the lower end of the average
range for this time of year. Total motor gasoline inventories increased by 0.9
million barrels last week, and are above the top of the average range. Total
commercial petroleum inventories declined by 6.8 million barrels last week, but
remain around the middle of the average range. |
