Petroleum production worked out to be less than in weeks past.
Data released Wednesday morning by the U.S. Energy Information Administration (EIA) revealed U.S. crude oil refinery inputs averaged 17.4 million barrels per day during the week ending December 14, which was 28,000 barrels per day less than the previous
week’s average.
Refineries operated at 95.4% of their operable capacity last week.
Gasoline production decreased last week, averaging 10.3 million barrels per day.
Distillate fuel production decreased last week, averaging 5.4 million barrels per day.
U.S. crude oil imports averaged 7.4 million barrels per day last week, up by 30,000 barrels per day from the previous week. Over the past four weeks, crude oil imports have averaged about 7.5 million barrels per day, 1.6% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 595,000 barrels per day, and distillate fuel imports averaged 139,000 barrels per day.
The EIA data also showed that U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.5 million barrels from the previous week. At 441.5 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year.
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