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[sludgehound]

crude supplies up 4/16 week

4/21/04 - SECTOR: EIA Petroleum Data Summary for Week of Apr 16 [delayed]


Ridgeland, MS, APR 21, 2004 (EventX/Knobias.com via COMTEX) -- During the week ending April 16, the EIA reported that U.S. crude oil refinery inputs averaged 15.2 million barrels per day, up 557,000 barrels per day from the previous week's average. Crude oil refinery inputs rose significantly in both the Midwest and the Gulf Coast. According to the report, the large jump may be a signal that most of the refineries that had undergone maintenance programs in recent weeks are now back up and operating. U.S. crude oil imports averaged nearly 9.7 million barrels per day last week, up 215,000 barrels per day from the prior week. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 0.2 million barrels last week.

Over the last four weeks, crude oil imports have averaged over 9.7 million barrels per day. Although the origins of weekly crude oil imports are preliminary and thus not published, it appears that crude oil imports from Saudi Arabia were relatively low last week, while imports from Iraq were relatively high. Total motor gasoline imports (including both finished gasoline and gasoline blending components) averaged 1.3 million barrels per day, the highest weekly average ever recorded. Distillate fuel imports averaged 397,000 barrels per day last week.

At 295.6 million barrels, U.S. crude oil inventories are currently 19.3 million barrels less than the 5-year average for this time of year. Motor gasoline inventories increased by 1.6 million barrels last week, and are 8.5 million barrels below the 5-year average. Distillate fuel inventories increased by 0.7 million barrels, with all of the increase in low-sulfur distillate fuel (diesel fuel). At 104.6 million barrels, distillate fuel inventories are 5.0 million barrels below the 5-year average for this time of year. Total commercial petroleum inventories are 54.3 million barrels less than the 5-year average.

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