Oil Inventories

Summary of Weekly Petroleum Data for the Week Ending June 20, 2008

U.S. crude oil refinery inputs averaged nearly 15.3 million barrels per day during the week ending June 20, down 181 thousand barrels per day from the previous week's average. Refineries operated at 88.6 percent of their operable capacity last week. Gasoline production rose last week, averaging about 9.1 million barrels per day. Distillate fuel production increased last week, averaging about 4.6 million barrels per day.
U.S. crude oil imports averaged about 10.3 million barrels per day last week, down 8 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 10.0 million barrels per day, 86 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 nearly 1.2 million barrels per day. Distillate fuel imports averaged 107 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.8 million barrels from the previous week. At 301.8 million barrels, U.S. crude oil inventories are near the lower boundary of the average range for this time of year. Total motor gasoline inventories decreased by 0.1 million barrels last week, and are in the lower half of the average range. Finished gasoline inventories increased last week while gasoline blending components inventories decreased during this same time. Distillate fuel inventories increased by 2.8 million barrels, and are in the middle of the average range for this time of year. Propane/propylene inventories increased by 1.2 million barrels last week but remain below the lower limit of the average range. Total commercial petroleum inventories increased by 5.4 million barrels last week, and are near the bottom of the average range for thistime of year.
Total products supplied over the last four-week period has averaged 20.2 million barrels per day, down by 2.3 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged about 9.3 million barrels per day, down by 2.1 percent from the same period last year. Distillate fuel demand has averaged nearly 4.1 million barrels per day over the last four weeks, down by 1.1 percent from the same period last year. Jet fuel demand is 3.6 percent lower over the last four weeks compared to the same four-week period last year.