U.S. crude oil refinery inputs averaged 13.9 million barrels per day during the week ending December 4, 77 thousand barrels per day above the previous week’s average. Refineries operated at 81.1 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.2 million barrels per day. Distillate fuel production increased last week, averaging 4.0 million barrels per day.
U.S. crude oil imports averaged 8.1 million barrels per day last week, down 264 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 8.5 million barrels per day, 1.4 million 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 750 thousand barrels per day. Distillate fuel imports averaged 185 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.8 million barrels from the previous week. At 336.1 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 above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week.
Distillate fuel inventories increased by 1.6 million barrels, and are above the upper boundary of the average range for this time of year. Propane/propylene inventories decreased by 1.3 million barrels last week and are near the lower limit of the average range. Total commercial petroleum inventories decreased by 4.3 million
barrels last week, and are above the upper limit of the average range for this time of year.
Total products supplied over the last four week period has averaged 18.5 million barrels per day, down by 3.0 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 9.0 million barrels per day, up by 1.2 percent from the same period last year. Distillate fuel demand has averaged
3.5 million barrels per day over the last four weeks, down by 8.3 percent from the same period last year. Jet fuel demand is 0.7 percent lower over the last four weeks compared to the same four week period last year.
The average world crude oil price on December 4, 2009 was $76.18 per barrel, $0.43 more than last week’s price and $33.06 above a year ago. WTI was $75.41 per barrel on December 4, 2009, $0.54 less than last week’s price but $34.40 above a year ago. The spot price for conventional gasoline in the New York Harbor was 196.46 cents per gallon, 2.11 cents more than last week’s price and 105.66 cents above last year. The spot price for No. 2 heating oil in the New York Harbor was 199.30 cents per gallon, 5.85 cents more than last week’s price and 58.83 cents above a year ago.
The national average retail regular gasoline price increased to 263.4 cents per gallon on December 7, 2009, 0.5 cent per gallon more than last week and 93.5 cents above a year ago. The national average retail diesel fuel price decreased for the fifth week in a row to 277.2 cents per gallon, 0.3 cent per gallon less than last week but 25.7 cents above a year ago.
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