CEC: California Mandated Gasoline Output Slid 25.2%% on Wk
4/02 8:35 AM
CEC: California Mandated Gasoline Output Slid 25.2% on Wk OAKHURST, N.J. (DTN) --- As refiners scale back operations to best manage the impact of COVID-19 and the collapse in oil prices, data from the California Energy Commission show output of the state mandated gasoline plunged to a better than 20-year low in the final week of March. CEC's latest Weekly Fuels Report show output of CARB reformulated gasoline plummeted 1.714 million bbl in the week ended March 27 to 5.093 million bbl, the lowest level since the week ended Feb. 18, 2000 at 4.978 million bbl. Production for the week profiled was 23.1% below the same week in 2019. CARB RFG inventories posted a build of 790,000 bbl in the week ended March 27 to 7.065 million bbl, the most supply in storage tanks since late May 2018 and a 16.2% year-over-year surplus. Data show production of gasoline for export out-of-state declined about 4% to 857,000 bbl while supply of the fuel added 63,000 bbl to 1.177 million bbl. Supply of gasoline blending components rose for the first time in four weeks, up 156,000 bbl to 6.634 million bbl, 7.3% more than same week last year. CARB ULSD production slid 460,000 bbl or 25.2% to 1.363 million bbl in the week ended March 27, 10.2% lower than output a year earlier while production of ULSD for export out-of-state rose 140,000 bbl to 1.046 million bbl. CEC reported CARB ULSD continued higher, up 114,000 bbl to 2.360 million bbl last week, an 11% year-over-year supply surplus. Stocks of ULSD meeting federal standards dropped 195,000 bbl to 1.693 million bbl. Jet fuel production continued lower for a fifth week, falling 268,000 bbl to 1.344 million bbl, a 10-year low while supply of the fuel was down for a third week, falling 261,000 bbl to 2.425 million bbl, the lowest level since the second week of July 2014. Refiner in the state cut crude inputs by 1.486 million bbl or 13% to 10.023 million bbl in the week reviewed, 8% below a year ago. The data show crude oil supply held higher, up 881,000 bbl to 16.790 million bbl, 9.3% above last year. (c) 2020 DTN. All rights reserved.