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EIA: Crude, gasoline inventories drop, so does refinery production

GasBuddy Blog -- The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories decreased by 2.4 million barrels to a total of 365.2 million barrels. At 365.2 million barrels, inventories are 24.2 million barrels above last year (7.1%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 0.5 million barrels to 195.8 million barrels. At 195.8 million barrels, inventories are down 19.0 million barrels, or 8.9% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.0mb);...

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Submitted Sep 26, 2012 By: PD

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repseng Sophomore Author Twin Cities Posts:165 Points:14,940 Joined:Sep 2012	Message Posted: Sep 30, 2012 10:28:58 AM Ignore repseng Report Abuse K
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Sep 30, 2012 5:47:11 AM Ignore honda0105 Report Abuse inventories are no indicator of prices at the pump. Pieces of useless information.
BIGOILEATURCRUD Champion Author North Carolina Posts:5,779 Points:1,379,475 Joined:Nov 2008	Message Posted: Sep 27, 2012 12:59:48 PM Ignore BIGOILEATURCRUD Report Abuse The shortest day of the year will be the winter solstice.
repseng Sophomore Author Twin Cities Posts:165 Points:14,940 Joined:Sep 2012	Message Posted: Sep 27, 2012 12:24:27 PM Ignore repseng Report Abuse K
repseng Sophomore Author Twin Cities Posts:165 Points:14,940 Joined:Sep 2012	Message Posted: Sep 27, 2012 12:24:12 PM Ignore repseng Report Abuse K
sparky808 Champion Author Honolulu Posts:3,008 Points:599,685 Joined:Sep 2011	Message Posted: Sep 27, 2012 10:23:31 AM Ignore sparky808 Report Abuse old post.
mrjames1818 Champion Author New Jersey Posts:1,550 Points:1,999,070 Joined:Mar 2004	Message Posted: Sep 27, 2012 9:28:11 AM Ignore mrjames1818 Report Abuse What a bunch of BS - cut refinery production - keep cost of gas up - export excess oil. And we give these companies tax breaks!!!!
puinsai808 Champion Author Honolulu Posts:3,549 Points:728,280 Joined:May 2011	Message Posted: Sep 27, 2012 8:11:36 AM Ignore puinsai808 Report Abuse old
OldMan322 Champion Author Illinois Posts:5,160 Points:1,595,715 Joined:Jul 2008	Message Posted: Sep 27, 2012 5:28:47 AM Ignore OldMan322 Report Abuse And Oil production is the highest since 1997, beware of numbers that lie
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Sep 27, 2012 4:22:21 AM Ignore jcdakota Report Abuse Great oil prices are dropping so the industry drops production of refineries to gouge the public !!!
nb52 Champion Author Grand Rapids Posts:7,785 Points:1,547,825 Joined:Nov 2008	Message Posted: Sep 27, 2012 3:27:40 AM Ignore nb52 Report Abuse Pump price still near $4.
Jeffro61 Champion Author Cleveland Posts:2,277 Points:2,286,845 Joined:Oct 2005	Message Posted: Sep 27, 2012 3:19:17 AM Ignore Jeffro61 Report Abuse Ok
fillerupyeoww Champion Author Columbus Posts:5,885 Points:1,650,415 Joined:Mar 2008	Message Posted: Sep 27, 2012 3:09:01 AM Ignore fillerupyeoww Report Abuse If refineries can't, or won't, why do we need all these new pipelines.
smqua Champion Author Cleveland Posts:1,688 Points:586,745 Joined:Mar 2011	Message Posted: Sep 27, 2012 3:07:26 AM Ignore smqua Report Abuse OK
vamike Champion Author Virginia Posts:5,330 Points:1,365,925 Joined:Dec 2008	Message Posted: Sep 27, 2012 3:03:44 AM Ignore vamike Report Abuse Whatever
teamsimons Champion Author South Carolina Posts:2,478 Points:503,095 Joined:Aug 2011	Message Posted: Sep 27, 2012 3:00:31 AM Ignore teamsimons Report Abuse Now that Hurricane Isaac is well past, why is refinery production still down? Why are crude oil and gasoline inventories down? This doesn't make sense. Meanwhile, we're seeing a gradual easing of gas prices in our area -- thank goodness!
D4444J Champion Author Albuquerque Posts:1,844 Points:589,855 Joined:Aug 2011	Message Posted: Sep 27, 2012 2:56:50 AM Ignore D4444J Report Abuse seems any reason raises prices, sun rising might do it!
Pointtx Champion Author Austin Posts:3,241 Points:726,055 Joined:Mar 2011	Message Posted: Sep 27, 2012 2:56:34 AM Ignore Pointtx Report Abuse Irrelevant data.
cheapertvs Champion Author Richmond Posts:10,290 Points:2,742,695 Joined:Jan 2004	Message Posted: Sep 27, 2012 2:56:29 AM Ignore cheapertvs Report Abuse Ever since BIG OIL started exporting large quantities of refined gasoline elsewhere, we have endured manipulated supply. The best answer to this issue is to nationalize the oil companies in the USA.
LeeFree Champion Author Pittsburgh Posts:9,156 Points:2,244,425 Joined:Jun 2005	Message Posted: Sep 27, 2012 2:55:18 AM Ignore LeeFree Report Abuse Not very encouraging for a price decrease at the pumps.
Petrock Champion Author Lexington Posts:9,128 Points:2,558,735 Joined:Apr 2005	Message Posted: Sep 27, 2012 2:55:06 AM Ignore Petrock Report Abuse How can oil AND gasoline inventories both drop? Are people driving more? - I think not. Are the oil companies importing less oil, but are sell more refined products overseas? - I suspect so.
DrCashFlow Champion Author Massachusetts Posts:7,074 Points:1,628,200 Joined:Jun 2008	Message Posted: Sep 27, 2012 2:54:30 AM Ignore DrCashFlow Report Abuse Selective supply
Lengas Champion Author Gary Posts:13,555 Points:2,718,750 Joined:Nov 2004	Message Posted: Sep 27, 2012 2:54:09 AM Ignore Lengas Report Abuse Big Oil Manipilation!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
mk9999 Champion Author Rochester Posts:7,920 Points:1,674,820 Joined:Aug 2008	Message Posted: Sep 27, 2012 2:52:47 AM Ignore mk9999 Report Abuse Another excuse to raise prices.
Dailyrun Champion Author Kentucky Posts:1,987 Points:389,815 Joined:Apr 2012	Message Posted: Sep 27, 2012 2:52:47 AM Ignore Dailyrun Report Abuse So they can justify higher prices.
tco0102 Champion Author Charleston Posts:7,404 Points:1,757,060 Joined:May 2007	Message Posted: Sep 27, 2012 2:48:31 AM Ignore tco0102 Report Abuse There goes the prices
DavidsChallenge All-Star Author Louisville Posts:635 Points:125,805 Joined:Aug 2012	Message Posted: Sep 27, 2012 2:48:04 AM Ignore DavidsChallenge Report Abuse Greed
chuckwthompson Champion Author Charlotte Posts:3,765 Points:579,135 Joined:Sep 2011	Message Posted: Sep 27, 2012 2:48:03 AM Ignore chuckwthompson Report Abuse Just another excuse to raise prices.
millerin Champion Author Orlando Posts:2,317 Points:483,090 Joined:Jan 2012	Message Posted: Sep 27, 2012 2:46:42 AM Ignore millerin Report Abuse hmm...
jeff95519 Champion Author California Posts:2,457 Points:1,355,215 Joined:Sep 2008	Message Posted: Sep 27, 2012 2:46:19 AM Ignore jeff95519 Report Abuse drill baby drill
Z06KY Champion Author Louisville Posts:5,150 Points:906,690 Joined:Nov 2010	Message Posted: Sep 27, 2012 2:43:31 AM Ignore Z06KY Report Abuse Obama!
Boo1989 Champion Author Atlanta Posts:7,178 Points:1,350,545 Joined:Oct 2008	Message Posted: Sep 27, 2012 2:42:15 AM Ignore Boo1989 Report Abuse "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." steven chu, obama's energy secretary.
Crumbfel Champion Author Virginia Posts:11,554 Points:2,160,585 Joined:Aug 2006	Message Posted: Sep 27, 2012 2:42:06 AM Ignore Crumbfel Report Abuse ok
ILVET Champion Author Illinois Posts:14,799 Points:2,926,590 Joined:Jan 2005	Message Posted: Sep 27, 2012 2:40:36 AM Ignore ILVET Report Abuse Get use to 4 more years of it
FMREALTOR Champion Author Florida Posts:6,410 Points:1,697,980 Joined:Jan 2007	Message Posted: Sep 27, 2012 2:39:58 AM Ignore FMREALTOR Report Abuse Anything to keep prices high
joko0 Champion Author New Jersey Posts:1,975 Points:566,590 Joined:Oct 2008	Message Posted: Sep 27, 2012 2:38:41 AM Ignore joko0 Report Abuse Always reasons to raise prices
Yankee829 Champion Author Dallas Posts:2,211 Points:560,565 Joined:Sep 2010	Message Posted: Sep 27, 2012 2:37:50 AM Ignore Yankee829 Report Abuse Ok
Foxt Champion Author Minnesota Posts:5,265 Points:2,021,305 Joined:Jul 2006	Message Posted: Sep 27, 2012 2:37:35 AM Ignore Foxt Report Abuse still going up here.
KhelbenArunson Champion Author Michigan Posts:4,451 Points:718,840 Joined:Apr 2008	Message Posted: Sep 27, 2012 2:36:04 AM Ignore KhelbenArunson Report Abuse I think we need to have laws about where they can sell american crude oil to help keep prices down here.
Goofoff Champion Author Virginia Posts:11,882 Points:2,177,200 Joined:Aug 2006	Message Posted: Sep 27, 2012 2:35:41 AM Ignore Goofoff Report Abuse WOW
hawkman1950 Champion Author Michigan Posts:2,630 Points:541,530 Joined:Aug 2010	Message Posted: Sep 27, 2012 2:35:04 AM Ignore hawkman1950 Report Abuse Trying to keep supplies tight so they can keep prices up. Quit shipping the stuff to Mexico.
4bobux Champion Author Peoria Posts:1,962 Points:409,230 Joined:Mar 2012	Message Posted: Sep 27, 2012 2:33:34 AM Ignore 4bobux Report Abuse big deal...
JoJoQc Champion Author Montreal Posts:5,336 Points:1,040,155 Joined:May 2010	Message Posted: Sep 27, 2012 2:32:23 AM Ignore JoJoQc Report Abuse Excuses,excuses and more excuses!!!!
kirzon484 Champion Author Atlanta Posts:1,871 Points:434,260 Joined:Jun 2011	Message Posted: Sep 27, 2012 2:30:19 AM Ignore kirzon484 Report Abuse old
billy44bo Champion Author Mobile Posts:7,212 Points:1,491,845 Joined:Feb 2008	Message Posted: Sep 27, 2012 2:29:27 AM Ignore billy44bo Report Abuse same old numbers game
gabisgram Champion Author Michigan Posts:2,201 Points:913,225 Joined:Sep 2006	Message Posted: Sep 27, 2012 2:28:08 AM Ignore gabisgram Report Abuse No surprise.
jetlagAK Champion Author Anchorage Posts:2,251 Points:635,675 Joined:Jan 2010	Message Posted: Sep 27, 2012 2:23:47 AM Ignore jetlagAK Report Abuse Just like with Barackanomics, the people get screwed. No more hype and chains!
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Sep 27, 2012 2:23:15 AM Ignore SUPERSTEVIEO Report Abuse just when the prices should drop... we will face an inventory level too low... so prices will at best stay where they are... right?
gaspumpin Champion Author Indiana Posts:1,672 Points:389,395 Joined:Apr 2012	Message Posted: Sep 27, 2012 2:21:38 AM Ignore gaspumpin Report Abuse And up go the gas prices.
zippy452 Champion Author Cincinnati Posts:9,428 Points:1,808,050 Joined:Oct 2006	Message Posted: Sep 27, 2012 2:20:08 AM Ignore zippy452 Report Abuse ...and gas prices rise.