E P U B ****************************************************************** September 1998 Highlights Based on initial estimates: * Total petroleum demand averaged 18.7 million barrels per day, a new record high for September. * Crude oil production averaged 6.3 million barrels per day, the lowest level for September since 1954. Imports averaged 8.4 million barrels per day, 0.5 million barrels per day below last years record high for the month. End- of-month crude oil stocks (excluding the Strategic Petroleum Reserve) totaled 322 million barrels, the highest September level since 1994. Crude oil inputs by refineries averaged 15.0 million barrels per day during September. * Finished motor gasoline demand averaged 8.3 million barrels per day a new record high for September. Production averaged 8.1 million barrels per day, slightly lower than expected due to tropical storms in the Gulf Coast region. End-of-month stocks totaled 163 million barrels, 5.5 million barrels higher than September of last year. * Distillate fuel oil demand averaged 3.2 million barrels per day during September. Production averaged 3.5 million barrels per day, a record high for September. Stocks of 152 million barrels are 13.5 million barrels above the end-of-month level for September of last year and the highest level for the month since 1986. * Total jet fuel demand averaged 1.6 million barrels per day during September. Production averaged 1.5 million barrels per day. Imports of 68 thousand barrels per day are at their lowest August level since 1987. Stocks of 44 million barrels were 1.1 million barrels below the end of September last year. * Demand of residual fuel oil averaged 878 thousand barrels per day, the highest September level since 1993. Stocks ended the month at 39 million barrels. Table H1. Petroleum Supply Summary (Million Barrels per Day, Except Where Noted) -------------------------------------------------------------------------------- 1998 1997 January-September -- Estimated -- Category Sep Aug Diff (a) Sep 1998 1997 -------------------------------------------------------------------------------- Products Supplied............ 18.7 19.4 -0.8 18.6 18.6 18.5 Finished Motor Gasoline.... 8.3 8.6 -0.3 8.0 8.2 8.0 Distillate Fuel Oil........ 3.2 3.5 -0.3 3.3 3.4 3.4 Residual Fuel Oil.......... 0.9 0.9 (s) 0.8 0.8 0.8 Jet Fuel................... 1.6 1.5 (s) 1.6 1.6 1.6 Other Petro Products (b)... 4.7 4.9 -0.2 4.9 4.6 4.7 Crude Oil Inputs............. 15.0 15.6 -0.7 15.3 14.9 14.6 Operating Util (%)........... 96.0 100.2 -4.2 100.4 97.1 96.1 Imports...................... 10.2 11.1 -0.8 10.5 10.4 10.2 Crude Oil.................. 8.4 9.3 -0.9 8.8 8.6 8.2 SPR...................... 0.0 0.0 0.0 0.0 0.0 0.0 Other.................... 8.4 9.3 -0.9 8.8 8.6 8.2 Products................... 1.8 1.8 0.1 1.7 1.8 2.0 Finished Motor Gasoline.. 0.3 0.4 (s) 0.3 0.3 0.3 Distillate Fuel Oil...... 0.2 0.2 (s) 0.2 0.2 0.2 Residual Fuel Oil........ 0.2 0.3 -0.1 0.1 0.2 0.2 Jet Fuel................. 0.1 0.1 (s) 0.1 0.1 0.1 Other Petro Products (c). 1.0 0.9 0.2 1.0 1.0 1.2 Exports...................... 1.0 1.0 (s) 1.0 1.0 1.0 Crude Oil.................. 0.1 0.1 (s) 0.1 0.1 0.1 Products................... 0.9 0.9 (s) 0.9 0.9 0.9 Total Net Imports............ 9.2 10.1 -0.9 9.5 9.4 9.2 Stock Change (d)............. -0.1 -0.3 0.2 0.7 0.3 0.3 Crude Oil.................. -0.3 -0.4 (s) 0.1 (s) 0.1 Products................... 0.3 0.1 0.1 0.6 0.3 0.2 -------------------------------------------------------------------------------- Total Stocks................. 1,654 1,656 -2 1,592 -- -- (million barrels) Crude Oil.................. 885 895 -10 867 -- -- SPR...................... 563 563 0 563 -- -- Other.................... 322 332 -10 304 -- -- Products................... 769 761 8 725 -- -- Finished Motor Gasoline.. 163 164 -1 158 -- -- Distillate Fuel Oil...... 152 144 8 139 -- -- Residual Fuel Oil........ 39 40 -1 35 -- -- Jet Fuel................. 44 45 (s) 46 -- -- Other Petro Products (c). 370 368 2 348 -- -- (a) Difference is equal to volume for current month minus volume for previous month. (b) Includes crude oil product supplied, natural gas liquids, liquefied refinery gases (LRG's), other liquids, and all finished petroleum products except finished motor gasoline, distillate fuel oil, residual fuel oil, and jet fuel. (c) Includes natural gas liquids, liquefied refinery gases (LRG's), other liquids, and all finished petroleum products except motor gasoline, jet fuel, distillate fuel oil, and residual fuel oil. (d) A negative number indicates a decrease in stocks and a positive number indicates an increase. (s) = Less than .05 million barrels per day, or less than 0.05 percent, or less than 0.5 million barrels. Note: Totals may not equal sum of components due to independent rounding.