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US Crude Oil Inventories Fall, Gasoline Supplies Rise Last Week

Posted on: Thursday, 29 September 2005, 09:00 CDT

US crude oil inventories fall, gasoline supplies rise last week

WASHINGTON, Sept. 28 (Xinhua) -- US commercial crude oil inventories declined over the past week while gasoline stockpiles increased, Energy Department reported Wednesday in its weekly survey.

The government data showed that in the week ending Sept. 23, US commercial crude oil inventories dropped 2.4 million barrels to 305.7 million. The drop was sharper than the one million barrel drawdown expected by analysts.

Gasoline stockpiles rose by 4.4 million barrels to 199.8 million last week. Supplies of distillates, including heating oil and diesel fuel, fell 500,000 barrels to 133.6 million, according to the department.

A parallel survey by the private American Petroleum Institute found that commercial crude oil inventories declined 740,000 barrels to 304.3 million. Gasoline reserves increased by 2.19 million barrels to 202.76 million. Distillates stock dipped 120, 000 barrels to 132.9 million.

The Energy Department also said that US refineries operated at 86.7 percent of capacity last week, down from 90.8 percent the prior week.

The figures for commercial crude oil inventories do not include US Strategic Petroleum Reserve, which currently holds crude oil of about 700 million barrels.

Source: Xinhua News Agency - CEIS

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