15 January 2014 17:05 [Source: ICIS news]
HOUSTON (ICIS)--US finished motor gasoline consumption rates fell for the week ended 10 January, causing inventories to surge, the US Energy Information Administration (EIA) said on Wednesday.
Gasoline inventories gained 6.1m bbl to reach 233.1m bbl for that week.
Analysts expected to see an increase of approximately 4m bbl.
Meanwhile, refinery utilisation rates fell to 90.0% from 92.3% the week prior.
Gasoline production increased to 8.874m bbl/day, a gain of 92,000 bbl/day.
Imports of the product were 26,000 bbl/day higher at 405,000 bbl/day, while exports held steady at 498,000 bbl/day.
Finished gasoline refers to the stage in the supply chain at which it reaches primary sources, such as blenders and terminals, before delivery to retail stations.
?xml:namespace> 20-Dec 27-Dec 3-Jan 10-Jan Gasoline Stocks 219.9 220.7 227.0 233.1 m bbl Gasoline consumption 9,176 8,893 8,274 8,021 bbl/d * *Figures are in thousand bbl
*Figures are in thousand bbl
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