US Crude Oil Inventories – Week ending Feb 20

 

crudeoil

U.S. crude oil refinery inputs averaged 13.9 million barrels per day during the
week ending February 20, down 207 thousand barrels per day from the previous
week's average. Refineries operated at 81.4 percent of their operable capacity
last week. Gasoline production rose last week, averaging 8.9 million barrels per
day. Distillate fuel production increased slightly last week, averaging 4.2
million barrels per day.

U.S. crude oil imports averaged nearly 8.8 million barrels per day last week,
down 24 thousand barrels per day from the previous week. Over the last four
weeks, crude oil imports have averaged 9.3 million barrels per day, 420 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 805 thousand barrels per day. Distillate fuel imports averaged 282
thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) increased 0.7 million barrels from the previous week. At
351.3 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
decreased by 3.4 million barrels last week, and are in the lower half of the
average range. Both finished gasoline inventories and gasoline blending
components inventories decreased last week. Distillate fuel inventories
increased by 0.8 million barrels, and are above the upper limit of the average
range for this time of year. Propane/propylene inventories decreased last week
by 0.6 million barrels and are above the upper limit of the average range. Total
commercial petroleum inventories decreased by 2.9 million barrels last week and
are above the upper limit of average range for this time of year.

Total products supplied over the last four-week period as averaged 19.7 million
barrels per day, down by 0.8 percent compared to the similar period last year.
Over the last four weeks, motor gasoline demand has averaged about 9.0 million
barrels per day, up by 1.7 percent from the same period last year. Distillate
fuel demand has averaged about 4.2 million barrels per day over the last four
weeks, down by 1.6 percent from the same period last year. Jet fuel demand is
15.4 percent lower over the last four weeks compared to the same four-week
period last year.

The tables that follow display the latest U.S. Petroleum Balance Sheet and the
most recent 4 weeks of Weekly Petroleum Status Report data.  

Table 1.  U.S. Petroleum Balance Sheet, 4 Weeks Ending 02/20/2009
                                                                     Cumulative
                                    Four Week Averages             Daily Averages
Petroleum Supply                          Ending            %                        %
(Thousand Barrels per Day)           02/20/09  02/20/08    Change     2009    2008    Chg
------------------------------------------------------------------------------------
Crude Oil Supply
Domestic Production (1)                  5,296     5,107       3.7
Net Imports (Incl SPR) (2)               9,284     9,715      -4.4
   Gross Imports (Excl SPR)              9,313     9,733      -4.3
   SPR Imports                               0         0       --
   Exports                                  29        18      61.1
SPR Stocks W/D or Added                    -49       -26       --
Other Stocks W/D or Added                 -445      -227       --
Product Supplied and Losses                  0         0       --
Unaccounted-for Crude Oil (3)               51       112       --

Crude Oil Input to Refineries           14,137    14,681      -3.7

Other Supply
Natural Gas Liquids Prod. (4)            2,118     2,180      -2.8 Cumulative daily
Other Liquids New Supply                   479       345      38.8 averages will be shown
Crude Oil Product Supplied                   0         0       0.0 beginning with the week
Processing Gain                            942       994      -5.2 ending April 3, 2009,
Net Product Imports (5)                  1,420     1,246      14.0 issue when Petroleum
   Gross Product Imports (5)             2,946     3,157      -6.7 Supply Monthly data for
   Product Exports (5)                   1,526     1,911     -20.1 January 2009 become
Prod Stocks W/D or Added (6)(7)            628       443       --  available.

Total Prod Supplied for Domestic Use    19,723    19,889      -0.8

Products Supplied
Finished Motor Gasoline (4)              8,985     8,833       1.7
Kerosene-Type Jet Fuel                   1,303     1,540     -15.4
Distillate Fuel Oil                      4,171     4,238      -1.6
Residual Fuel Oil                          624       591       5.6
Propane/Propylene                        1,530     1,541      -0.7
Other Oils (8)                           3,111     3,147      -1.1

Total Products Supplied                 19,723    19,889      -0.8

Total Net Imports                       10,704    10,961      -2.3
------------------------------------------------------------------------------------
Petroleum Stocks                                                           % Chg fr
(Million Barrels)                    02/20/09  02/13/09  02/20/08      Prev Week   Yr Ago
------------------------------------------------------------------------------------
Crude Oil (Excluding SPR) (9)            351.3     350.6     299.8             0.2    17.2
Total Motor Gasoline                     215.3     218.7     232.9            -1.6    -7.6
   Reformulated                            0.9       0.9       1.1             0.0   -18.2
   Conventional                           92.2      92.6     117.2            -0.4   -21.3
   Blending Components                   122.3     125.2     114.6            -2.3     6.7
Kerosene-Type Jet Fuel                    40.5      41.0      40.5            -1.2     0.0
Distillate Fuel Oil (7)                  141.6     140.8     121.3             0.6    16.7
   15 ppm sulfur and Under                86.6      85.3      66.1             1.5    31.0
   > 15 ppm to 500 ppm sulfur             19.4      19.6      21.4            -1.0    -9.3
   > 500 ppm sulfur                       35.6      35.9      33.8            -0.8     5.3
Residual Fuel Oil                         36.4      36.3      38.9             0.3    -6.4
Propane/Propylene                         39.4      40.0      32.6            -1.5    20.9
Unfinished Oils                           84.2      84.2      88.7             0.0    -5.1
Other Oils (10)                          126.8     127.0     113.7            -0.2    11.5

Total Stocks (Excl SPR) (7)            1,035.6   1,038.5     968.3            -0.3     7.0
Crude Oil in SPR (11)                    704.2     703.9     698.7             0.0     0.8
Total Stocks (Incl SPR) (7)            1,739.7   1,742.4   1,667.0            -0.2     4.4

  1 Includes lease condensate.
  2 Net Imports = Gross Imports (line 3) + Strategic Petroleum Reserve (SPR)
    Imports (line 4) - Exports (line 5).
  3 Unaccounted-for Crude Oil is a balancing item. See Glossary for further
    explanation.
  4 Includes adjustments for fuel ethanol and motor gasoline blending components.
  5 Includes finished petroleum products, unfinished oils, gasoline blending
    components, and natural gas plant liquids.
  6 Includes an estimate of minor product stock change based on monthly data.
  7 Distillate fuel oil stocks located in the "Northeast Heating Oil Reserve" are
    not included. For details see Appendix B.
  8 Includes crude oil product supplied, natural gas liquids, liquefied
    refinery gases (LRGs), other liquids, and all finished petroleum products
    except motor gasoline, kerosene-type jet fuel, distillate, residual fuel oils,
    and propane/propylene.
  9 Includes domestic and Customs-cleared foreign crude oil in transit to
    refineries.
 10 Included are stocks of all other oils such as aviation gasoline, kerosene,
    natural gas liquids and LRGs (except propane/propylene), other
    hydrocarbons and oxygenates, aviation gasoline blending components, naphtha and
    other oils for petrochemical feedstock use, special naphthas, lube oils, waxes,
    coke, asphalt, naphtha-type jet fuel, road oil, and miscellaneous oils.
 11 Crude oil stocks in the SPR include non-U.S. stocks held under foreign or
    commercial storage agreements.
  Notes: Some data are estimated.  See Sources for clarification of estimated data.
  Due to independent rounding, individual product detail may not add to total.
  Percentages are calculated using rounded numbers.
Sources: (the complete url below appears on two lines)
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_
status_report/current/pdf/sources.pdf
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