CL Redux
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Summary of Weekly Petroleum Data for the Week Ending June 3, 2011
U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending June 3, 261 thousand barrels per day above the previous weekâs average. Refineries operated at 87.2 percent of their operable capacity last week. Gasoline production increased slightly last week, averaging 9.4 million barrels per day. Distillate fuel production increased last week, averaging 4.4 million barrels per day.
U.S. crude oil imports averaged 8.6 million barrels per day last week, down by 918 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.0 million barrels per day, 707 thousand barrels per day below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged about 1.2 million barrels per day. Distillate fuel imports averaged 155 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.8 million barrels from the previous week. At 369.0 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 increased by 2.2 million barrels last week and are in the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 0.8 million barrels last week and are in the upper limit of the average range for this time of year. Propane/propylene inventories increased by 1.8 million barrels last week and are below the lower limit of the average range. Total commercial petroleum inventories increased by 1.5 million barrels last week.
Total products supplied over the last four-week period has averaged 18.9 million barrels per day, down by 3.9 percent compared to the similar period last year. Over the last four weeks, motor gasoline product supplied has averaged about 9.2 million barrels per day, up by 0.3 percent from the same period last year. Distillate fuel product supplied has averaged 3.8 million barrels per day over the last four weeks, down by 4.9 percent from the same period last year. Jet fuel product supplied is 1.2 percent higher over the last four weeks compared to the same four-week period last year.
U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending June 3, 261 thousand barrels per day above the previous weekâs average. Refineries operated at 87.2 percent of their operable capacity last week. Gasoline production increased slightly last week, averaging 9.4 million barrels per day. Distillate fuel production increased last week, averaging 4.4 million barrels per day.
U.S. crude oil imports averaged 8.6 million barrels per day last week, down by 918 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.0 million barrels per day, 707 thousand barrels per day below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged about 1.2 million barrels per day. Distillate fuel imports averaged 155 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.8 million barrels from the previous week. At 369.0 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 increased by 2.2 million barrels last week and are in the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 0.8 million barrels last week and are in the upper limit of the average range for this time of year. Propane/propylene inventories increased by 1.8 million barrels last week and are below the lower limit of the average range. Total commercial petroleum inventories increased by 1.5 million barrels last week.
Total products supplied over the last four-week period has averaged 18.9 million barrels per day, down by 3.9 percent compared to the similar period last year. Over the last four weeks, motor gasoline product supplied has averaged about 9.2 million barrels per day, up by 0.3 percent from the same period last year. Distillate fuel product supplied has averaged 3.8 million barrels per day over the last four weeks, down by 4.9 percent from the same period last year. Jet fuel product supplied is 1.2 percent higher over the last four weeks compared to the same four-week period last year.
June 8, 2011, 11:43 a.m. EDT
IEA urges producers to keep up with oil demand
SAN FRANCISCO (MarketWatch) -- The International Energy Agency on Wednesday urged "key producers" of oil to keep up with seasonally rising demand after members of the Organization of the Petroleum Exporting Countries "were unable to agree on the need to make more oil available to the market." In a statement after the OPEC meeting broke out without a decision to increase official production quotas, the IEA said it was "ready to work with its member governments and others to help ensure that markets are well supplied." Supply disruptions and the "fragile state" of the global economy "call for a prompt increase in supply ... Otherwise, a further tightening in the market and potential increases in prices risk undermining economic recovery, which is in the interests neither of producers or consumers," the IEA said. The IEA's 28 member countries are mostly developed nations and energy consumers. The members hold at least 90 days worth of oil supplies and cooperate in case of supply emergencies.
IEA urges producers to keep up with oil demand
SAN FRANCISCO (MarketWatch) -- The International Energy Agency on Wednesday urged "key producers" of oil to keep up with seasonally rising demand after members of the Organization of the Petroleum Exporting Countries "were unable to agree on the need to make more oil available to the market." In a statement after the OPEC meeting broke out without a decision to increase official production quotas, the IEA said it was "ready to work with its member governments and others to help ensure that markets are well supplied." Supply disruptions and the "fragile state" of the global economy "call for a prompt increase in supply ... Otherwise, a further tightening in the market and potential increases in prices risk undermining economic recovery, which is in the interests neither of producers or consumers," the IEA said. The IEA's 28 member countries are mostly developed nations and energy consumers. The members hold at least 90 days worth of oil supplies and cooperate in case of supply emergencies.