U.S. DOE Weekly Petroleum Status Report for May 16 (Text)

Following is the text of the weekly Petroleum Status Report from the U.S. Department of Energy:

U.S. crude oil refinery inputs averaged over 15.9 million barrels per day during the week ending May 16, 2014, 282,000 barrels per day more than the previous week’s average. Refineries operated at 88.7% of their operable capacity last week. Gasoline production decreased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged about 6.5 million barrels per day last week, down by 658,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.0 million barrels per day, 11.3% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 997,000 barrels per day. Distillate fuel imports averaged 176,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.2 million barrels from the previous week. At 391.3 million barrels, U.S. crude oil inventories are near 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 in the middle of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 3.4 million barrels last week but are below the lower limit of the average range for this time of year. Propane/propylene inventories rose 2.2 million barrels last week and are in the middle of the average range. Total commercial petroleum inventories increased by 2.1 million barrels last week.

Total products supplied over the last four-week period averaged over 18.9 million barrels per day, up by 1.8% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged over 8.9 million barrels per day, up by 5.3% from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels per day over the last four weeks, up by 7.7% from the same period last year. Jet fuel product supplied is down 0.3% compared to the same four-week period last year.

To contact the reporter on this story: Stephen Rose in Washington at srose31@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net

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