Reformulated gasoline (RFG) inventories in the U.S. reached 37 million bbl at the end of November in anticipation of the Jan. I start-up for sales of the fuel.
The American Petroleum Institute's monthly statistical report found RFG inventories rose about 33.5 million bbl in November.
Refinery production of RFG, destined for sale in about one third of the U.S. gasoline market year round, was running at a little more than 2 million b/d by the end of the month.
Total deliveries of gasoline were slightly higher in November than in the same month a year ago. During the month, deliveries averaged 7.585 million b/d, up 0.7% from the 7.533 million b/d delivered in November 1993.
API said U.S. crude production continued to slide. In November, it averaged 6.567 million b/d, down 5% from 6.912 million b/d in the same month a year ago.
Meanwhile, U.S. imports of crude oil and petroleum products declined for the second month in a row. November imports averaged 8.673 million b/d, 2.6% less than the 8.903 million b/d of November 1993.
Kerosine jet fuel deliveries were up 12.4% in November at 1.525 million b/d, compared with 1.357 million b/d a year ago. Deliveries of distillate fuel (home heating oil and diesel) were about the same as a year ago, averaging 3.228 million b/d.
Deliveries of residual (heavy) fuel oil fell sharply to 834,000 b/d from 1.126 million b/d a year ago.
At the end of November, total inventories of crude and products stood at 1.07 billion bbl, up 0.8% from the end of October and down 2.5% from the same time a year ago.
U.S. refineries operated at 93.2% of capacity in November vs. 91.9% in November 1993.
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