Wednesday, November 15, 2006

Summary of Weekly Petroleum Data for the Week Ending November 10, 2006

U.S. crude oil refinery inputs averaged over 14.9 million barrels per day during
the week ending November 10, down 221,000 barrels per day from the previous
week's average. Refineries operated at 87.3 percent of their operable capacity
last week. Gasoline production decreased slightly last week compared to the
previous week, averaging nearly 8.7 million barrels per day, while distillate
fuel production remained relatively constant, averaging 4.0 million barrels per
day.

U.S. crude oil imports averaged nearly 9.5 million barrels per day last week,
down 337,000 from the previous week. Over the last four weeks, crude oil imports
have averaged 9.7 million barrels per day. Total motor gasoline imports
(including both finished gasoline and gasoline blending components) last week
averaged nearly 1.1 million barrels per day. Distillate fuel imports averaged
328,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) rose by 1.3 million barrels compared to the previous week.
At 336.0 million barrels, U.S. crude oil inventories remain well above the upper
end of the average range for this time of year. Total motor gasoline
inventories dropped by 3.7 million barrels last week, and are now in the lower
half of the average range. Distillate fuel inventories fell by 3.6 million
barrels, and are in the upper half of the average range for this time of year.
A very slight increase in high-sulfur distillate fuel (heating oil) inventories
was more than compensated by a significant decline in diesel fuel (both
ultra-low-sulfur and 15 ppm to 500 ppm sulfur) inventories. Total commercial
petroleum inventories declined by 9.0 million barrels last week, but remain
above the upper end of the average range for this time of year.

Total products supplied over the last four-week period has averaged over 21.3
million barrels per day, or 4.8 percent more than averaged over the same period
last year (when Hurricanes Katrina and Rita lowered demand levels). Over the
last four weeks, motor gasoline demand has averaged over 9.3 million barrels per
day, or 3.1 percent above the same period last year. Distillate fuel demand has
averaged nearly 4.5 million barrels per day over the last four weeks, or 9.5
percent above the same period last year. Jet fuel demand is up 4.1 percent over
the last four weeks compared to the same four-week period last year.