Summary of Weekly Petroleum Data for the Week Ending December 21, 2007:

U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending December 21, down 22,000 barrels per day from the previous week’s average. Refineries operated at 88.1 percent of their operable capacity last week. Gasoline production moved lower compared to the previous week, averaging 9.0 million barrels per day. Distillate fuel production fell last week, averaging nearly 4.3 million barrels per day.

U.S. crude oil imports averaged 9.8 million barrels per day last week, up 694,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.6 million barrels per day, or 62,000 barrels per day less than averaged over the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.0 million barrels per day. Distillate fuel imports averaged 143,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 3.3 million barrels compared to the previous week. At 293.6 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories increased by 0.7 million barrels last week, but are in the lower half of the average range. Finished gasoline inventories fell last week while gasoline blending components inventories increased during this same period. Distillate fuel inventories decreased by 2.8 million barrels, and are near the lower limit of the average range for this time of year. Propane/propylene inventories decreased by 1.8 million barrels last week. Total commercial petroleum inventories decreased by 10.5 million barrels last week, and are in the middle of the average range for this time of year.

Total products supplied over the last four-week period has averaged 21.1 million barrels per day, up by 1.6 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 9.3 million barrels per day, or 0.3 percent above the same period last year. Distillate fuel demand has averaged 4.5 million barrels per day over the last four weeks, up 5.7 percent compared to the same period last year. Jet fuel demand is 1.9 percent lower over the last four weeks compared to the same four-week period last year.

The tables that follow display the latest U.S. Petroleum Balance Sheet and the most recent 4 weeks of Weekly Petroleum Status Report data.