INVENTORIES OF FUEL OIL, GASOLINE SHRANK IN WEEK

INVENTORIES OF FUEL OIL, GASOLINE SHRANK IN WEEK

Supplies of distillate oil and gasoline declined last week, according to the American Petroleum Institute's latest weekly supply bulletin.

For the week ended Feb. 12, distillate fuel inventories fell to 118.1 million barrels from 123.3 million the previous week, and remained below supplies of 135.7 million at the same time last year.Distillate production rose slightly to 2.9 million barrels a day from 2.8 million b/d in both the week before and the same week last year.

Distillate imports sank to 157,000 b/d from 256,000 b/d the previous week, and were also below the 171,000 b/d that the U.S. imported during the corresponding week in 1987.

Gasoline supplies decreased marginally to 236.2 million barrels from 240.7 million the week before and 255.3 million barrels a year ago.

Unleaded gasoline supplies also fell slightly to 142.9 million barrels

from 146.4 million barrels in the previous week, but were above the 141.9 million barrels in stock at this time in 1987.

Gasoline production held steady at 6.6 million b/d, the same level as in the previous week but slightly above production of 6.4 million b/d in the same week last year.

Production of unleaded gasoline fell marginally to 5.3 million b/d from 5.4 million b/d the week before, but was higher than production of 4.8 million b/d in the same week a year ago.

Gasoline imports plunged to 178,000 b/d from 353,000 b/d in the previous week, but were only slightly below the 179,000 b/d imported at this time in 1987.

U.S. refineries operated at 81.6 percent of capacity, down from 83.1 percent in the previous week but slightly above year-ago levels of 80.0 percent.

Crude oil imports fell to 4.4 million b/d from 4.8 million b/d in the previous week, but were higher than year-ago imports of 3.8 million b/d.

Crude oil stocks slipped to 336.9 million barrels from 338.1 million barrels in the previous week, but were above year-ago levels of 326.5 million barrels.