API WEEKLY REPORT \ DISTILLATE FUEL OIL STOCKS DECLINE FROM PREVIOUS WEEK

API WEEKLY REPORT \ DISTILLATE FUEL OIL STOCKS DECLINE FROM PREVIOUS WEEK

U.S. distillate fuel oil inventories fell by 5.5 million barrels in the week ended Feb. 6, as compared with the previous week, the American Petroleum Institute's latest weekly supply bulletin shows.

Primary inventories of distillate, used for diesel fuel and home heating, were 128.7 million barrels, down from 134.2 million in the previous week, but up from the 110.6 million barrels on hand in the year-earlier period.Crude stocks were 326.3 million barrels, up from 321.3 million barrels in the previous week and from 301.7 million barrels in inventory a year earlier.

Primary inventories of gasoline were 219.7 million barrels, up from the previous week's 218.06 million and from the 207.5 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.

Regular unleaded reformulated gasoline stocks were 44.3 million barrels, down from 45.1 million barrels the previous week but more than the 38.5 million barrels in inventory for the corresponding year-earlier period.

Distillate production was 3.45 million barrels a day, up from 3.42 million barrels a day in the previous week and 3.1 million barrels a day in the similar period last year.

Distillate fuel imports were 238,000 barrels a day, up from 195,000 barrels a day in the prior week but less than year-earlier levels of 252,000 barrels a day.

The refinery-utilization rate was 91 percent, up from the previous week's 90.8 percent and from 87.6 percent in the year-earlier period.

Gasoline production was 7.8 million barrels a day, up from 7.6 million barrels a day in the previous week, and also up from the 7.04 million barrels a day in the year-earlier period.

Imports of gasoline fell, to 200,000 barrels a day from 316,000 barrels a day in the pr evious week, and from the 249,000 barrels a day imported in the same period a year e arlier.

API WEEKLY REPORT

Thousands of Barrels

Week Week Week

Ended Ended Ended

2-6 1-30 2-7

1998 1998 1997

Total U. S.

DAILY OUTPUT

Gasoline 7,858 7,609 7,043

Jet Fuel 1,503 1,489 1,498

Distillate 3,453 3,428 3,134

Residual 665 745 884

Average daily output for the four-week period ended Feb. 2, 1998 was: gasoline, 5,070, jet fuel, 970, distillate, 2,228 and residual, 429.

PRIMARY STOCKS

Gasoline 219,171 218,069 207,558

Jet Fuel 43,844 44,207 36,485

Distillate 128,776 134,247 110,610

Residual 39,316 38,810 43,357

Total 431,107 435,333 398,010

Excluding West Coast

DAILY OUTPUT

Gasoline 6,710 6,418 5,851

Jet Fuel 1,113 1,082 1,049

Distillate 3,049 3,016 2,794

Residual 491 579 621

PRIMARY STOCKS

Gasoline 187,387 185,342 176,666

Jet Fuel 34,850 34,588 29,006

Distillate 117,641 122,488 99,604

Residual 33,182 32,971 36,858

Total 373,060 375,389 342,134

East Coast

DAILY OUTPUT

Gasoline 1,018 984 782

Jet Fuel 106 111 88

Distillate 483 396 387

Residual 130 173 135

PRIMARY STOCKS

Gasoline 61,106 60,513 55,783

Jet Fuel 11,128 12,410 10,013

Distillate 54,875 56,445 41,419

Residual 15,157 15,168 17,558

Total 142,266 144,536 124,773

New England

PRIMARY STOCKS

Gasoline 5,141 5,329 4,331

Jet Fuel 604 691 641

Distillate 10,143 10,379 8,437

Residual 1,562 1,302 2,137

DAILY IMPORTS

Gasoline 1 212 56

Distillate 120 18 72

Residual 2 94 1

Central Atlantic

PRIMARY STOCKS

Gasoline 30,886 28,854 27,331

Jet Fuel 6,234 6,438 3,580

Distillate 31,264 33,730 22,716

Residual 11,192 11,602 12,419

DAILY IMPORTS

Gasoline 38 49 91

Distillate 60 167 54

Residual 66 45 178

Lower Atlantic

PRIMARY STOCKS

Gasoline 15,079 26,330 24,121

Jet Fuel 4,290 5,281 5,792

Distillate 13,468 12,336 10,266

Residual 2,403 2,264 3,002

DAILY IMPORTS

Gasoline 113 28 126

Distillate 50 __ 37

Residual __ 109 137

ESTIMATED U. S. OUTPUT

OF CRUDE AND CONDENSATE

Total

U.S. 6,347.0 6,347.0 6,470.0

Excl. W.

Coast 4,129.0 4,129.0 4,124.0

W. Coast 2,218.0 2,218.0 2,346.0

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

CRUDE OIL STOCKS

Total

U.S. 326,314 321,367 299,469

Excl. W.

Coast 261,572 260,084 232,644

. Stocks by location, not by state of origin.

DAILY REFINERY CRUDE RUNS

Total

U.S. 14,359 14,333 13,505

Excl. W.

Coast 11,921 11,822 11,159

TOTAL REFINERY INPUT

Total

U.S. 15,499 15,335 14,614

Excl. W.

Coast 13,035 12,753 11,981

DAILY OIL IMPORTS

Week Week Week

Ended Ended Ended

2-6-98 1-30-98 2-7-97

Excluding West Coast

Crude 8,130 6,452 7,684

(Canada

Crude) (1,012) (1,074) (834)

Distillate 238 195 174

Residual 68 248 378

Other 404 198 238

Total 8,956 7,459 8,950

West Coast

Crude 241 359 210

(Canada

Crude) (118) (72) (112)

Products 76 216 87

Total 317 575 297

Total U.S.

Crude 8,371 6,811 7,894

(Canada

Crude) (1,130) (1,146) (946)

Products 1,594 1,842 1,930

Total 9,965 8,653 9,824

*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

Operating Operating Capacity Utilizing Rate %

Total U.S. 15,786 91.0

Excl. W. Coast 12,857 92.7

INDICATED REFINERY YIELDS**

Week Week Month

Ends Ends Ends

2-6 1-30 1-30

1998 1998 1998

Gasoline 49.9 49.6 50.2

Jet Fuel 9.7 9.9 10.0

Distillate 22.1 21.9 22.2

Residual 4.6 4.7 4.8

** Based on total refinery input.