Summary of Weekly Petroleum Data for the Week Ending June 6, 2003
U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending June 6, down 199,000 barrels
per day from the record set the previous week. Crude oil refinery inputs were relatively unchanged in all regions except
in the Gulf Coast, which saw a decline. Refinery output of motor gasoline, distillate fuel, and jet fuel all declined
compared to the previous week’s averages.
U.S. crude oil imports averaged 9.9 million barrels per day last week, down 637,000 barrels per day from the extremely
high level the previous week. Crude oil imports have averaged over 10.1 million barrels per day over the last four
weeks, which is 921,000 barrels per day more than averaged over the same period last year. Although the origins of
weekly crude oil imports are preliminary and thus not published, no Iraqi crude oil was imported into the United States
last week. Crude oil imports from Saudi Arabia appear to have remained relatively large, and imports from Venezuela were
not abnormally high or low. Total motor gasoline imports (including both finished gasoline and gasoline blending
components) increased from the previous week, averaging 827,000 barrels per day last week. Distillate fuel imports
averaged 328,000 barrels per day last week.
With crude oil imports down considerably from the previous week, U.S. commercial crude oil inventories (excluding those
in the Strategic Petroleum Reserve) fell by 4.6 million barrels, and are 40.4 million barrels less than last year at
this time. However, motor gasoline inventories rose by 2.6 million barrels, and are now back above the low end of the
normal range. Distillate fuel inventories increased by 2.8 million barrels, with most of the increase seen in
high-sulfur (heating oil) distillate fuel and are at the lower end of the normal range. As of June 6, total commercial
petroleum inventories are 115.4 million barrels less than last year.
Total product supplied over the last four-week period averaged nearly 20.1 million barrels per day, or 1.9 percent more
than the same period last year. Over the last four weeks, motor gasoline demand, however, is down 2.8 percent, while
distillate fuel demand is up 0.8 percent compared to the same period last year. Kerosene-type jet fuel demand is 6.2
percent less than last year over the same four-week period.
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 06/06/03
::::::::::::::: Cumulative
:::::::::: Four Week Averages:::Daily Averages
:::::::::: Ending:::::156 Days
Petroleum Supply::::::::::%::----------------::%
(Thousand Barrels per Day)::06/06/03 06/06/02::Chg::2003::2002::Chg
***********
Crude Oil Supply
Domestic Production (1) ........ E5,815::5,904::-1.5 E5,852::5,915::-1.1
Net Imports (Incl SPR) (2) ..... 10,120::9,203::10.0::9,162::8,863::3.4
Gross Imports (Excl SPR) ..... 10,130::9,193::10.2::9,171::8,850::3.6
SPR Imports ..................:::0:::16::--:::0:::21:::--
Exports ......................::E10:::7::42.9:::E9:::8::12.5
SPR Stocks W/D or Added ........::-128::-151::--::-31::-140:::--
Other Stocks W/D or Added ......:::4:::17::--::-55::-82:::--
Product Supplied and Losses ....::E0:::0::--:::E0:::0:::--
Unaccounted-for Crude Oil (3)...::28::330::--:::95::230:::--
Crude Oil Input to Refineries... 15,839 15,304::3.5 15,023 14,786::1.6
Other Supply
Natural Gas Liquids Prod. (6)... E1,988::2,346 -15.3 E1,970::2,195::-10.3
Other Liquids New Supply .......::E201:::33 509.1::E221:::99::123.2
Crude Oil Product Supplied .....::E0:::0::0.0:::E0:::0::0.0
Processing Gain ................ E1,003::993::1.0::E949::953::-0.4
Net Product Imports (4) ........ 1,746::1,491::17.1::1,519::1,374::10.6
Gross Product Imports (4) .... 2,702::2,389::13.1::2,561::2,288::11.9
Product Exports (4) ..........::E956::898::6.5 E1,042::915::13.9
Prod Stocks W/D or Added (5)(11)::-696::-465::--::323:::56:::--
Tot Prod Supplied for Domestic.. 20,080 19,702::1.9 20,006 19,463::2.8
Products Supplied
Finished Motor Gasoline (6) .... 8,834::9,090::-2.8::8,627::8,671::-0.5
Naphtha-Type Jet Fuel ..........:::0:::-8 -100.0:::-5:::-6::-16.7
Kerosene-Type Jet Fuel ......... 1,457::1,554::-6.2::1,521::1,580::-3.7
Distillate Fuel Oil ............ 3,702::3,671::0.8::4,024::3,759::7.0
Residual Fuel Oil ..............::716::658::8.8::781::678::15.2
Other Oils (7) ................. 5,372::4,737::13.4::5,056::4,780::5.8
Total Products Supplied ........ 20,080 19,702::1.9 20,006 19,463::2.8
Total Net Imports .............. 11,866 10,694::11.0 10,681 10,237::4.3
***********
Petroleum Stocks:::::::::::::Percent Chg from
(Million Barrels):::::06/06/03 05/30/03 06/06/02 Prev Wk::Yr Ago
***********
Crude Oil (Excluding SPR) (8) ..::284.4::289.0::324.8::-1.6::-12.4
Total Motor Gasoline ...........::209.9::207.3::218.3:::1.3::-3.8
::Reformulated ................::37.4:::34.6:::46.9:::8.1::-20.3
::Oxygenated ..................::0.2:::0.3:::0.4::-33.3::-50.0
::Other Finished ..............::118.8::118.3::122.2:::0.4::-2.8
::Blending Components .........::53.4:::54.1:::48.9::-1.3:::9.2
Naphtha-Type Jet Fuel ..........::0.0:::0.0:::0.1:::0.0::-100.0
Kerosene-Type Jet Fuel .........::41.1:::40.4:::40.7:::1.7:::1.0
Distillate Fuel Oil (11)........::107.3::104.5::128.0:::2.7::-16.2
::0.05% Sulfur and under ......::71.5:::71.1:::77.4:::0.6::-7.6
::Greater than 0.05% Sulfur ...::35.8:::33.4:::50.6:::7.2::-29.2
Residual Fuel Oil ..............::36.8:::36.9:::33.7::-0.3:::9.2
Unfinished Oils ................::83.3:::84.3:::90.5::-1.2::-8.0
Other Oils (9) ................. E161.4::E159.4::203.4:::1.3::-20.6
Total Stocks (Excluding SPR)(11)::924.1::921.7::1,039.5:::0.3::-11.1
Crude Oil in SPR (10)...........::604.0::602.5::572.1:::0.2:::5.6
Total Stocks (Including SPR)(11) 1,528.1::1,524.2::1,611.6:::0.3::-5.2
***********
E = Estimate based on data published for the most recent month in the "Petroleum Supply Monthly," except for
exports,crude oil production and other oil stocks.
Weekly estimates of exports are forecast using an autoregressive integrated moving average procedure. The most recent 5
years of data are used to obtain the forecasts. Crude oil production estimates are based on historical production
patterns. Cumulative crude oil production values shown in the U.S. Petroleum Balance Sheet include revised estimates
published in the "Petroleum Supply Monthly". Other oils stocks data are derived by (1) computing an average daily rate
of stock change for the minor products for each month based on monthly data for the past 6 years; (2) using this daily
rate and the minor stock levels from the most recent monthly publication to estimate the minor product stock level for
the current period. Year ago data are interpolated from published monthly stock levels.
1 Includes lease condensate.
2 Net Imports = Gross Imports + Strategic Petroleum Reserve (SPR) Imports ::::: - Exports
3 Unaccounted-for crude oil is a balancing item which is used to balance ::data (or estimates) about supply with data
(or estimates) about ::disposition.
4 Includes finished petroleum products, unfinished oils, gasoline blending ::components, and natural gas plant liquids.
5 Includes an estimate of minor product stock change based on monthly data
6 Includes field production of fuel ethanol and an adjustment for motor ::gasoline blending components.
7 Includes crude oil product supplied, natural gas liquids, liquefied ::refinery gases (LRGs), other liquids, and all
finished petroleum products ::except motor gasoline, jet fuels, and distillate and residual fuel oils.
8 Includes domestic and Customs-cleared foreign crude oil in transit to ::refineries.
9 Included are stocks of all other oils such as aviation gasoline, ::kerosene, natural gas liquids and LRGs, other
hydrocarbons and ::oxygenates, aviation gasoline blending components, naphtha and other ::oils for petrochemical
feedstock use, special naphthas, lube oils, ::waxes, coke, asphalt, road oil, and miscellaneous oils.
10 Crude oil stocks in the SPR include Non-US stocks held under foreign or ::commercial storage agreements.
11 Distillate fuel oil stocks located in "Northeast Heating Oil Reserve" are ::not included. For details see Appendix D,
page 53, in the WPSR.