API WEEKLY REPORT \ CRUDE OUTPUT UP BY 38 MILLION BARRELS

API WEEKLY REPORT \ CRUDE OUTPUT UP BY 38 MILLION BARRELS

U.S. crude oil inventories rose more than 38 million barrels in the week ended April 24, as compared with the previous week, the American Petroleum Institute's latest weekly supply bulletin shows.

Crude stocks were 343 million barrels, up from 304.8 million barrels in the previous week and also up from the 314.6 million barrels in inventory a year earlier.Primary inventories of distillate, used for diesel fuel and home heating, were 121.5 million barrels, lower than the 122.3 million in the previous week, but higher than the 94.9 million barrels on hand in the year-earlier period.

Primary inventories of gasoline were 211 million barrels, down from the previous week's 212.2 million and up from the 194.2 million barrels on hand a year earlier.

Primary inventories are those held by refiners, importers and at pipeline terminals. They do not reflect stocks held by jobbers, retailers or consumers.

Total reformulated gasoline stocks were 118 million barrels, down sharply from 197 million barrels the previous week and less than the 191 million barrels average four-week inventory of one year ago.

Distillate production was 3.45 million barrels a day, up slightly from 3.44 million the previous week and up from the 3.3 million in the similar period last year.

Distillate fuel imports were 236,000 barrels a day, rebounding from 86,000 barrels a day in the prior week.

The refinery-utilization rate was 95.7 percent, down from the previous week's 97.7 percent, but up from 93.5 percent in the year-earlier period.

Gasoline production was 8.1 million barrels a day, down from 8.25 million barrels in the previous week, but up from 7.7 million barrels the year earlier.

Imports of gasoline fell, to 211,100 barrels a day from 212,200 barrels a day in the previous week.

Crude oil imports were 8.3 million barrels a day, downfrom the previous week's 9.5 million barrels a day and up from the 7.9 million barrels a day imported during the year-earlier period.

API WEEKLY REPORT

Thousands of Barrels

Week Week Week

Ended Ended Ended

4-24 4-17 4-25

1998 1998 1997

Total U. S.

DAILY OUTPUT

Gasoline 8,094 8,250 7,733

Jet Fuel 1,527 1,483 1,552

Distillate 3,458 3,435 3,260

Residual 888 813 675

Average daily output for the four-week period ended Apr. 24, 1998 was: gasoline, 8,109, jet fuel, 1,512, distillate, 3,396 and residual, 851.

PRIMARY STOCKS

Gasoline 211,063 212,247 194,179

Jet Fuel 42,272 40,873 38,557

Distillate 121,500 122,331 94,885

Residual 39,850 39,126 42,281

Total 414,685 414,577 369,902

Excluding West Coast

DAILY OUTPUT

Gasoline 6,739 6,843 6,369

Jet Fuel 1,104 1,070 1,077

Distillate 3,030 2,963 2,785

Residual 644 626 452

PRIMARY STOCKS

Gasoline 182,541 183,813 166,116

Jet Fuel 32,826 31,824 30,557

Distillate 108,484 109,607 83,372

Residual 33,670 32,960 35,495

Total 357,521 358,204 315,540

East Coast

DAILY OUTPUT

Gasoline 977 964 838

Jet Fuel 104 79 74

Distillate 417 401 474

Residual 135 150 97

PRIMARY STOCKS

Gasoline 59,266 59,214 49,906

Jet Fuel 10,067 9,007 10,438

Distillate 45,897 44,993 30,493

Residual 15,022 14,723 14,503

Total 130,252 127,937 105,340

New England

PRIMARY STOCKS

Gasoline 4,699 4,694 3,325

Jet Fuel 586 616 591

Distillate 9,383 8,571 4,935

Residual 1,123 1,243 1,770

DAILY IMPORTS

Gasoline 94 119 226

Distillate 122 25 298

Residual 30 9 91

Central Atlantic

PRIMARY STOCKS

Gasoline 31,722 31,854 25,246

Jet Fuel 5,293 4,438 3,322

Distillate 25,928 25,448 14,452

Residual 11,592 11,277 10,828

DAILY IMPORTS

Gasoline 44 87 161

Distillate 87 37 42

Residual 156 34 __

Lower Atlantic

PRIMARY STOCKS

Gasoline 22,845 22,666 21,335

Jet Fuel 4,188 3,953 6,525

Distillate 10,586 10,974 11,106

Residual 2,307 2,203 1,905

DAILY IMPORTS

Gasoline 106 101 79

Distillate 15 19 37

Residual __ 145 __

ESTIMATED U. S. OUTPUT

OF CRUDE AND CONDENSATE

Total

U.S. 6,424.0 6,424.0 6,394.0

Excl. W.

Coast 4,206.0 4,206.0 4,115.0

W. Coast 2,218.0 2,218.0 2,279.0

Figures for production by state published at the end of each month.

CRUDE OIL STOCKS

Total

U.S. 343,044 340,837 315,689

Excl. W.

Coast 280,623 277,243 250,383

. Stocks by location, not by state of origin.

DAILY REFINERY CRUDE RUNS

Total

U.S. 15,113 15,191 14,578

Excl. W.

Coast 12,276 12,575 11,837

TOTAL REFINERY INPUT

Total

U.S. 16,337 16,492 16,025

Excl. W.

Coast 13,480 13,612 13,156

DAILY OIL IMPORTS

Week Week Week

Ended Ended Ended

4-24-98 4-17-98 4-25-97

Excluding West Coast

Crude 7,562 9,237 7,470

(Canada

Crude) (1,295) (1,145) (1,022)

Distillate 234 85 269

Residual 207 196 349

Other 226 219 179

Total 8,631 10,167 8,769

West Coast

Crude 725 266 513

(Canada

Crude) (82) (111) (216)

Products 90 57 194

Total 815 323 707

Total U.S.

Crude 8,287 9,503 7,983

(Canada

Crude) (1,377) (1,256) (1,238)

Products 1,729 2,091 2,204

Total 10,016 11,594 10,187

*Denotes revised figures.

NOTE: Jet fuel figures are for kerosene-type only. No. 4 oil included in distillate stocks figures, but not in distillate production.

INPUT CAPACITY TO

CRUDE PROCESSING UNITS

Oper-

Oper- ating

ating Utilizing

Capacity Rate %

Total U.S. 15,786 95.7

Excl. W. Coast 12,857 95.5

INDICATED REFINERY YIELDS**

Week Week Month

Ends Ends Ends

4-24 4-17 4-17

1998 1998 1998

Gasoline 49.8 49.8 49.6

Jet Fuel 9.3 9.3 9.2

Distillate 20.9 20.9 20.8

Residual 5.2 5.2 5.1

** Based on total refinery input.