25 January 2012 17:58 [Source: ICIS news]
HOUSTON (ICIS)--US consumption of finished gasoline rebounded as production rates continued to slip, causing a drop in inventories for the week ended 20 January, as indicated by government statistics released on Wednesday.
Consumption of finished gasoline for the week of 20 January was at 8.098m bbl/day, an increase of 102,000 bbl/day from the week ended 13 January, according to Energy Information Administration (EIA).
Despite the increase in consumption for the week of 20 January, it remained low compared with levels for the week ended 16 December 2011, which were at 8.879m bbl/day.
Production of motor gasoline fell to 8,511m bbl/day, a drop of 206,000 bbl/day from the week ended 13 January. The lack of gasoline demand, cited in the previous week’s data, and refinery turnarounds, particularly on the US Gulf coast, contributed to the lower production rates.
BP is conducting a turnaround at its 406,570 bbl/day Texas City refinery in Texas. CITGO is also conducting a turnaround at its 157,000 bbl/day Corpus Christi refinery in Texas.
The drop in production and increase in consumption led to lower stockpiles for the week of 20 January, the EIA data indicated. Inventories of motor gasoline were at 227.1m bbl, a drop of 400,000m bbl.
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