U.S. crude oil refinery inputs averaged nearly 15.2 million barrels per day
during the week ending November 3, down 124,000 barrels per day from the
previous week's average. Refineries operated at 88.1 percent of their operable
capacity last week. Gasoline production decreased slightly last week compared
to the previous week, averaging over 8.7 million barrels per day, while
distillate fuel production also declined, averaging 4.0 million barrels per day.

U.S. crude oil imports averaged 9.8 million barrels per day last week, down
306,000 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 1.0 million barrels per day. Distillate fuel imports averaged 224,000
barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) increased by 0.4 million barrels compared to the previous
week. At 334.7 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 declined by 0.6 million barrels last week, and are in the upper end
of the average range. Distillate fuel inventories dropped by 2.7 million
barrels, but are just above the upper end of the average range for this time of
year. A slight increase in high-sulfur distillate fuel (heating oil)
inventories was more than compensated by a significant decline in regular diesel
fuel (15 ppm to 500 ppm sulfur) inventories. Total commercial petroleum
inventories declined by 6.8 million barrels last week, but remain well 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 21.4
million barrels per day, or 5.4 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 nearly 9.4 million barrels
per day, or 3.9 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 8.9
percent above the same period last year. Jet fuel demand is up 1.2 percent over
the last four weeks compared to the same four-week period last year.