Wednesday, November 22, 2006

Summary of Weekly Petroleum Data for the Week Ending November 17, 2006

U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the
week ending November 17, up 60,000 barrels per day from the previous week's
average. Refineries operated at 87.1 percent of their operable capacity last
week. Gasoline production inched slightly higher last week compared to the
previous week, averaging 8.7 million barrels per day, while distillate fuel
production increased as well, averaging nearly 4.1 million barrels per day.

U.S. crude oil imports averaged 10.5 million barrels per day last week, up over
1.0 million barrels per day from the previous week. Over the last four weeks,
crude oil imports have averaged nearly 10.0 million barrels per day. Total
motor gasoline imports (including both finished gasoline and gasoline blending
components) last week averaged 1.2 million barrels per day. Distillate fuel
imports averaged 205,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) jumped by 5.1 million barrels compared to the previous week.
At 341.1 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 increased by 1.4 million barrels last week, but remain in the lower
half of the average range. Distillate fuel inventories fell by 1.2 million
barrels, but remain in the upper half of the average range for this time of
year. A decline in ultra-low-sulfur diesel fuel inventories more than
compensated for a slight increase in low-sulfur diesel fuel (15 ppm to 500 ppm
sulfur), while high-sulfur distillate fuel (heating oil) inventories inched
slightly lower. Total commercial petroleum inventories rose by 3.8 million
barrels last week, and 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 nearly 21.1
million barrels per day, or 2.9 percent more than averaged over the same period
last year. Over the last four weeks, motor gasoline demand has averaged nearly
9.3 million barrels per day, or 1.9 percent above the same period last year.
Distillate fuel demand has averaged over 4.4 million barrels per day over the
last four weeks, or 9.2 percent above the same period last year. Jet fuel demand
is down 0.1 percent over the last four weeks compared to the same four-week
period last year.