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  • bluecheese4u bluecheese4u Nov 25, 2009 1:43 PM Flag

    Summary of Weekly Petroleum Data for the Week Ending November 20, 2009

    Summary of Weekly Petroleum Data for the Week Ending November 20, 2009

    U.S. crude oil refinery inputs averaged 14.0 million barrels per day during the
    week ending November 20, 177 thousand barrels per day above the previous week's
    average. Refineries operated at 80.3 percent of their operable capacity last
    week. Gasoline production increased last week, averaging 9.2 million barrels
    per day. Distillate fuel production decreased last week, averaging 4.0 million
    barrels per day.

    U.S. crude oil imports averaged 9.0 million barrels per day last week, up 371
    thousand barrels per day from the previous week. Over the last four weeks,
    crude oil imports have averaged 8.6 million barrels per day, 1.4 million
    barrels per day below the same four-week period last year. Total motor
    gasoline imports (including both finished gasoline and gasoline blending
    components) last week averaged 928 thousand barrels per day. Distillate fuel
    imports averaged 234 thousand barrels per day last week.

    U.S. commercial crude oil inventories (excluding those in the Strategic
    Petroleum Reserve) increased by 1.0 million barrels from the previous week. At
    337.8 million barrels, U.S. crude oil inventories are above the upper limit of
    the average range for this time of year. Total motor gasoline inventories
    increased by 1.0 million barrels last week, and are slightly above the upper
    limit of the average range. Both finished gasoline inventories and blending
    components inventories increased last week. Distillate fuel inventories
    decreased by 0.5 million barrels, and are above the upper boundary of the
    average range for this time of year. Propane/propylene inventories decreased
    by 1.9 million barrels last week and are in the lower half of the average
    range. Total commercial petroleum inventories decreased by 0.9 million barrels
    last week, and are above the upper limit of the average range for this time
    of year.

    Total products supplied over the last four-week period has averaged 18.7
    million barrels per day, down by 2.9 percent compared to the similar period
    last year. Over the last four weeks, motor gasoline demand has averaged 9.0
    million barrels per day, up by 0.5 percent from the same period last year.
    Distillate fuel demand has averaged 3.6 million barrels per day over the last
    four weeks, down by 9.5 percent from the same period last year. Jet fuel demand
    is 1.6 percent higher over the last four weeks compared to the same four-week
    period last year.

    The tables that follow display the latest U.S. Petroleum Balance Sheet and the
    most recent 4 weeks of Weekly Petroleum Status Report data.


    Table 1. U.S. Petroleum Balance Sheet, 4 Weeks Ending 11/20/2009

    http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt

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    • This Week In Petroleum

      Released on November 25, 2009
      (Next Release on December 2, 2009)

      Market Conditions Reduce Refinery Outage Impacts
      The Energy Information Administration (EIA) reviews planned refinery outages in the spring and fall, when maintenance-related outages are typically high, to evaluate whether they might have a significant impact on prices. The recently released fall report, Market Assessment of Refinery Outages Planned for October 2009 through January 2010, finds that refinery capacity net of outages should be adequate to meet projected national needs during the upcoming heating season.

      Market conditions are blunting the potential impacts of both planned and unplanned refinery outages. The economic downturn this year resulted in decreased petroleum demand and low refinery utilization (Figure 1). As a result, more capacity to make up for capacity lost through planned refinery outages is available than would be otherwise. Furthermore, increased use of ethanol in gasoline reduced the need for crude-based gasoline production, and world supply of gasoline available for importation to the U.S. is increasing. Lastly, U.S. inventories of total products and crude oil remain high, providing extra supply cushion to meet market needs during outages.

      EIA’s refinery outage assessment focuses on crude oil distillation and fluid catalytic cracking capacity (FCC) outages. Distillate production is mainly affected by outages of the crude distillation unit, while gasoline production is more strongly correlated with FCC unit outages. Our assessment includes the impacts of the indefinite idling of Sunoco’s 145,000-barrel-per-day Eagle Point refinery in New Jersey. Available refinery crude distillation capacity could run about 2 million barrels per day more than projected needs, implying that at least 10 percent of available capacity may not be required. Likewise, available FCC capacity will be about 10 percent greater than projected demand.

      In summary, refinery outages are not expected to create significant price pressure by reducing supplies below levels necessary to meet projected petroleum demand this winter. The combined outlook for planned and typical unplanned outages, weak product demand, widely available imports, and ample U.S. gasoline and distillate stocks leads to this conclusion. While market conditions are currently providing a cushion of available supply that limits the potential impacts of both planned and unplanned outages, those same conditions could lead to reduced surplus capacity in the future if continued economic pressures on refining result in more refinery shutdowns.

      http://tonto.eia.doe.gov/oog/info/twip/twipprint.html

      • 1 Reply to bluecheese4u
      • This Week In Petroleum

        Part two

        U.S. Average Gasoline Price Creeps up a Penny
        Moving up a penny to $2.64 per gallon, the U.S. average price for regular gasoline increased for the first time in three weeks. The average was $0.75 above the price a year ago. Price changes were mixed on a regional basis, with the East Coast essentially unchanged while prices in the Midwest and Gulf Coast went up and prices in the Western regions dropped. The average price on the Gulf Coast increased a penny to $2.51 per gallon and the Midwest average rose nearly four cents to $2.58 per gallon. In the Rocky Mountains, the average dipped two cents to $2.58 per gallon. On the West Coast, the average slipped a penny to $2.88 per gallon. The average in California dropped two cents to $2.94 per gallon.

        Although the national average price for diesel fuel slipped a fraction of a cent, it was relatively unchanged at $2.79 per gallon. The average is $0.12 per gallon higher than last year at this time. The prices on the East Coast and Midwest dropped about a penny to $2.80 and $2.76 per gallon, respectively. The averages on the Gulf Coast and in the Rocky Mountains inched up half a penny to settle at $2.74 and $ 2.83 per gallon, respectively. On the West Coast, the average slipped a fraction of a cent, to remain essentially unchanged at $2.90 per gallon. The price in California dipped a penny to $2.95 per gallon.

        Propane Stocks Continue to Decline
        Propane inventories continued to fall last week from their October peak. Total U.S. inventories dropped over 1.8 million barrels to 63.6 last week. Consequently, primary inventories of propane have moved closer to the lower boundary of the average range for this time of year. The Midwest region led the decline with 1.3 million barrels of stock draw. The East Coast regional inventories declined 0.4 million barrels, while the Gulf Coast and Rocky Mountain/West Coast regions both drew 0.1 million barrels of inventory. Propylene non-fuel use inventories increased their share of total propane/propylene inventories from 3.4 percent to 3.5 percent.

        Residential Fuel Prices Increase
        Residential heating oil prices rose during the period ending November 23, 2009. The average residential heating oil price gained 0.3 cent per gallon last week to reach 274.7 cents per gallon, an increase of 3.4 cents per gallon from the same time last year. Wholesale heating oil prices increased 0.3 cent per gallon to reach 204.8 cents per gallon, 21.2 cents per gallon higher than at this time last year.

        The average residential propane price increased 3.1 cents per gallon to reach 227.2 cents per gallon. This was a decrease of 14.3 cents per gallon compared to the 241.5 cents per gallon average from the same period last year. Wholesale propane prices gained 3.1 cents per gallon, from 117.0 cents per gallon to 120.1 cents per gallon. This was an increase of 38.9 cents per gallon when compared to the November 24, 2008 price of 81.2 cents per gallon.

 
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