Gasoline Supply in Calif. Up on Wk, Output Slightly Lower

    

   OAKHURST, N.J. (DTN) --- Total gasoline supply on-hand at California 
refineries increased last week though regional production of the fuel was 
slightly lower, according to the most recent data compiled by the California 
Energy Commission showed.

   CEC showed in its Weekly Fuels Watch Report that overall gasoline production 
decreased 24,000 bbl to 7.843 million bbl for the week-ended Sept. 3, running 
565,000 bbl above year prior production levels.

   Production of gasoline mandated for in-state use by the California Air 
Resources Board dropped 193,000 bbl or 2.8 percent to 6.653 million bbl last 
week, which is 598,000 bbl above output levels reported during the comparable 
week in 2009.

   The data showed production of gasoline for export out-of-state climbed 
169,000 bbl to 1.190 million bbl for the period profiled. Output of the fuel is 
running 33,000 bbl below levels a year ago.

   Total gasoline reserves at refineries in the state, which include 
California's mandated reformulated blend as well as conventional gasoline for 
out-of-state export, increased 419,000 bbl or 6.1 percent to 7.271 million bbl 
last week. 

   At the current level, overall gasoline supply is a steep 1.081 million bbl 
or 17.5 percent above supply held during the same week in 2009.

   CARB gasoline supply for the week-ended Sept. 3 added 30,000 bbl to 5.457 
million bbl, which is 737,000 bbl above year prior inventory levels. Supply of 
gasoline for out-of-state export jumped 389,000 bbl to 1.814 million bbl. At 
the current level, supply is 344,000 bbl higher than supply held during the 
comparable week in 2009.

   Stockpiles of gasoline blending components gained 28,000 bbl to 6.601 
million bbl, marking a 9.0 percent supply surplus versus year prior levels.

   The data indicated refiners cut total distillate fuels production by 228,000 
bbl or 9.3 percent to 2.219 million bbl during the week under review. Output 
for the period reviewed ran 143,000 bbl above the comparable year prior period.

   CARB specified ultra-low sulfur diesel fuel output increased 219,000 bbl to 
1.851 million bbl for the week, while production of the federal specified ULSD 
for out-of-state export slid 447,000 bbl to 368,000 bbl.

   According to the report, distillates stockpiles in the state posted a 
207,000 bbl build to 3.688 million bbl last week, which is a sizeable 20.5 
percent above inventory levels a year ago. The report detailed a 61,000 bbl 
build in CARB ULSD inventory to 2.243 million bbl, which is 221,000 bbl higher 
than supply held during the comparable week in 2009. Supply of ULSD for 
out-of-state export increased 146,000 bbl during the period reviewed to 1.445 
million bbl.

   Jet fuel production for the period reviewed decreased 18,000 bbl to 1.744 
million bbl, which is 330,000 bbl above year prior output. Jet fuel stockpiles 
posted a 131,000 bbl build to 3.006 million bbl for the period profiled.

   Refiners in the state processed 11.641 million bbl of crude during the week 
under review, 327,000 bbl below the prior week's output. Refiner crude inputs 
are running 543,000 bbl or 4.9 percent above year prior production levels.

   CEC reported a 622,000 draw in the state's crude supply to 16.604 million 
bbl last week. Supply on-hand is 1.171 million bbl or 6.6 percent below 
inventory held during the corresponding week in 2009.

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