US petroleum data: Week ending 18 July 2014

Refining

In the US crude oil refinery inputs were at approximately 16.6 million bpd during the week ending 18 July. This is 28 000 bpd less than the previous week’s average. Refineries were operating at 93.8% and gasoline production increased to average 9.4 million bpd. Distillate fuel production increased to average 5.2 million bpd.

Imports

US crude oil imports averaged 7.4 million bpd last week, a drop of 20 000 bpd from the previous week. Over the past four weeks, crude oil imports reportedly averaged 7.3 million bpd, which is 4.2% below the same four week period in 2013. Total motor gasoline imports averaged 625 000 bpd and distillate fuel imports averaged 91 000 bpd.

Inventories

Commercial crude oil inventories dripped by 4 million bbls from the previous week. Standing at 371.1 million bbls, US crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories rose by 3.4 million bbls over the week, and are also in the upper half of the average range. Finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 1.6 million bbls last week but are near the lower limit of the average range for this time of year. Propane/propylene inventories increased 2.2 million bbls over the week and are near the upper limit of the average range. Total commercial petroleum inventories increased by 5.2 million bbls.

Supply

Total products supplied over the last four week period averaged 19.3 million bpd, a drop of 2% on the same period last year. Over the last four weeks, motor gasoline product supplied averaged 9 million bpd, a drop of 1% from the same period last year. Distillate fuel production supply averaged 3.8 million bpd over the last four weeks, a drop of 6.2% from the same period last year. Jet fuel product supplied was up 1% compared to the same four week period in 2013.

Adapted by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24072014/us-petroleum-weekly-update-summary/