E P U B ****************************************************************** October 1998 Highlights Based on initial estimates: * Total petroleum demand averaged 18.6 million barrels per day, the lowest October level since 1995. * Crude oil production averaged 6.4 million barrels per day, the lowest level for October since 1954. Imports averaged 8.3 million barrels per day, 0.6 million barrels per day below last years record high for the month. End- of-month crude oil stocks (excluding the Strategic Petroleum Reserve) totaled 340 million barrels, the highest October level since 1994. Crude oil inputs by refineries averaged 14.0 million barrels per day during October. * Finished motor gasoline demand averaged 8.3 million barrels per day a new record high for October. Production averaged 7.9 million barrels per day, 0.1 million barrels per day below the October record high set last year. End-of-month stocks totaled 157 million barrels, 0.6 million barrels below that of October last year. * Distillate fuel oil demand averaged 3.5 million barrels per day during October. Production averaged 3.2 million barrels per day, 0.2 million barrels per day below the daily average for the month last year. Stocks of 145 million barrels are 9.2 million barrels above the end-of- month level for October 1997. * Total jet fuel demand averaged 1.5 million barrels per day during October. Production averaged 1.4 million barrels per day. Stocks of 43 million barrels were 3.1 million barrels below the end of October last year. * Production of residual fuel oil averaged 691 thousand barrels per day, the lowest October level since 1971. Stocks ended the month at 40 million barrels, the highest level for the month since 1994. Table H1. Petroleum Supply Summary (Million Barrels per Day, Except Where Noted) -------------------------------------------------------------------------------- 1998 1997 January-October -- Estimated -- Category Oct Sep Diff (a) Oct 1998 1997 -------------------------------------------------------------------------------- Products Supplied............ 18.6 18.7 (s) 19.1 18.6 18.6 Finished Motor Gasoline.... 8.3 8.3 (s) 8.1 8.2 8.0 Distillate Fuel Oil........ 3.5 3.2 0.3 3.7 3.4 3.4 Residual Fuel Oil.......... 0.8 0.9 -0.1 0.7 0.8 0.8 Jet Fuel................... 1.5 1.6 (s) 1.6 1.5 1.6 Other Petro Products (b)... 4.5 4.7 -0.2 5.0 4.6 4.7 Crude Oil Inputs............. 14.0 15.0 -1.0 14.9 14.9 14.6 Operating Util (%)........... 89.7 96.0 -6.2 97.8 96.4 96.3 Imports...................... 10.3 10.2 (s) 10.8 10.4 10.3 Crude Oil.................. 8.3 8.4 (s) 8.9 8.5 8.3 SPR...................... 0.0 0.0 0.0 0.0 0.0 0.0 Other.................... 8.3 8.4 (s) 8.9 8.5 8.3 Products................... 1.9 1.8 0.1 1.9 1.8 2.0 Finished Motor Gasoline.. 0.3 0.3 (s) 0.3 0.3 0.3 Distillate Fuel Oil...... 0.2 0.2 (s) 0.2 0.2 0.2 Residual Fuel Oil........ 0.3 0.2 0.1 0.2 0.2 0.2 Jet Fuel................. 0.1 0.1 (s) 0.1 0.1 0.1 Other Petro Products (c). 1.1 1.0 (s) 1.1 1.0 1.2 Exports...................... 1.0 1.0 (s) 1.1 1.0 1.0 Crude Oil.................. 0.1 0.1 (s) 0.2 0.1 0.1 Products................... 0.9 0.9 (s) 0.9 0.9 0.9 Total Net Imports............ 9.3 9.2 (s) 9.7 9.4 9.3 Stock Change (d)............. -0.2 -0.1 -0.2 0.2 0.3 0.3 Crude Oil.................. 0.6 -0.3 0.9 0.4 0.1 0.1 Products................... -0.8 0.3 -1.1 -0.2 0.2 0.2 -------------------------------------------------------------------------------- Total Stocks................. 1,647 1,654 -7 1,598 -- -- (million barrels) Crude Oil.................. 903 885 18 879 -- -- SPR...................... 563 563 0 563 -- -- Other.................... 340 322 18 316 -- -- Products................... 744 769 -25 718 -- -- Finished Motor Gasoline.. 157 163 -6 158 -- -- Distillate Fuel Oil...... 145 152 -7 136 -- -- Residual Fuel Oil........ 40 39 1 36 -- -- Jet Fuel................. 43 44 -1 46 -- -- Other Petro Products (c). 359 370 -11 342 -- -- (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.