EIA: Crude Stocks Down 1.9M Bbl on Week, Fuels Continue Builds


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) U.S. commercial crude oil inventories saw a drawdown last 
week, while gasoline and distillate fuel oil stocks continued their builds, the 
Energy Information Administration (EIA) reported Wednesday (12/31).

   Commercial crude stocks fell by 1.9 million bbl to 422.9 million bbl during 
the week ended December 26, following a 400,000 bbl increase the prior week, 
the EIA said in its Weekly Petroleum Status Report.

   With the weekly draw, U.S. crude inventories stood at 7.3 million bbl, or 
1.8%, higher than levels a year earlier, the report showed.

   Crude stockpiles at the Cushing, Oklahoma delivery point for NYMEX West 
Texas Intermediate futures, however, extended their growth, climbing by 500,000 
bbl to 22.1 million after the prior week's addition of 700,000 bbl.

   Distillate fuel oil inventories rose by 5 million bbl to 123.7 million, 
supported by continuous increases across ultra low sulfur and higher sulfur 
categories. In the previous week, distillates saw a build of 2.2 million.

   Total motor gasoline inventories increased by 5.8 million bbl to 234.3 
million during the reference week, adding to the prior week's surplus of 2.9 
million. Blending components rose by 4.3 million bbl to 218.3 million, 
accounting for most of the increase, while conventional gasoline stocks edged 
up by 1.5 million to 16 million.

   Refinery utilization averaged 94.7% of operable capacity, up marginally from 
94.6% in the prior week. Crude oil inputs to refineries averaged 16.8 million 
bpd, also fractionally higher than the previous week's 16.78 million.

   Crude oil exports averaged 3.44 million bpd, down by about 176,000 bpd from 
the previous week, while crude imports fell by 1.14 million bpd to 4.95 million 
bpd.

   Total products supplied over the last four weeks averaged 19.34 million bpd, 
down by 4.5% from the same period a year earlier. Gasoline demand averaged 8.56 
million bpd, down by 4.8% from a year earlier, while distillate demand averaged 
3.38 million bpd, down by 4.5% from the same period last year.

    

    

    

    




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