March 2002 Highlights

These data are compiled by aggregating weekly estimates,
previously published in the Weekly Petroleum Status Report, and
interpolating for a monthly-from-weekly value.

               *    Total petroleum demand declined to an average of 19.1
          million barrels per day, the lowest average for this
          time of year since 1998.  Demand for heating fuels
          continues to be softened by moderate temperatures and
          fuel switching.  Natural gas prices remain lower than
          last year resulting in decreased demand for distillate
          fuel and residual fuel compared to last year.

               *    Domestic production of crude oil rose to the highest
          average for the month since 1998 at 6.0 million barrels
          per day.  Production from Alaska remains relatively
          strong, accounting for 1.0 million barrels per day. 
          Crude oil imports averaged 8.4 million barrels, down
          1.0 million barrels per day compared to last year's
          record for the March.  Excluding the Strategic
          Petroleum Reserve, inventories of crude oil ended the
          month at 325 million barrels, 20.6 million barrels
          higher than this time last year.  Crude oil inputs
          increased slightly from February to an average of 14.4
          million barrels per day, although they were slightly
          below average for this time of year.

               *    Demand for finished motor gasoline set a record high
          for the month at an average of 8.5 million barrels per
          day.  Production of finished motor gasoline also
          reached a record level for March at an average of 8.1
          million barrels per day.  Imports of finished motor
          gasoline averaged 487 thousand barrels per day, a
          record high for the month.  Stocks of finished motor
          gasoline ended the month totaling 159 million barrels,
          12.9 million barrels higher than last March's unusually
          low level.

               *    Demand for distillate fuel oil averaged 3.8 million
          barrels per day, down from last March's record for the
          month.  Production averaged 3.4 million barrels per
          day, the lowest average since March 2000.  Imports of
          distillate fuel oil averaged 216 thousand barrels per
          day.  While inventories of distillate fuel oil fell
          10.5 million barrels by month's end, at 120 million
          barrels they remain well above this time last year.

               *    Demand and production for jet fuel each averaged 1.5
          million barrels per day in March.  Demand was the
          lowest level for the month since 1997 while production
          was at the lowest level for the month since 1996. 
          Imports of jet fuel averaged 84 thousand barrels per
          day, the lowest average for the month in nine years. 
          Stocks ended the month at 41 million barrels.

               *    Demand for residual fuel oil averaged 0.7 million
          barrels per day and production averaged 0.6 million
          barrels per day; both were down compared to a year ago. 
          Last year's high natural gas prices encouraged fuel
          switching out of natural gas and into residual fuel
          oil, but this year the reverse is more likely to have
          occurred.  Stocks of residual fuel ended the month at
          35 million barrels.March 2002 Highlights

                                                                                
                                                                                
Table H1.  Petroleum Supply Summary                                             
           (Million Barrels per Day, Except Where Noted)                        
--------------------------------------------------------------------------------
                                       2002            2001   January-March     
                             -- Estimated --                                    
          Category              Mar     Feb    Diff (a) Mar    2002    2001     
--------------------------------------------------------------------------------
                                                                                
Products Supplied............  19.1    19.5    -0.4    19.9    19.2    19.8     
  Finished Motor Gasoline....   8.5     8.5     (s)     8.5     8.4     8.3     
  Distillate Fuel Oil........   3.8     3.8    -0.1     4.1     3.8     4.2     
  Residual Fuel Oil..........   0.7     0.8     (s)     0.9     0.7     1.0     
  Jet Fuel...................   1.5     1.5     (s)     1.7     1.6     1.7     
  Other Petro Products (b)...   4.5     4.8    -0.3     4.6     4.7     4.6     
                                                                                
Crude Oil Inputs.............  14.4    14.3     0.1    14.6    14.4    14.7     
                                                                                
Operating Util (%)...........  89.1    88.0     1.2    90.9    89.3    91.7     
                                                                                
Imports......................  10.6    10.6     0.1    11.9    10.7    11.9     
  Crude Oil..................   8.4     8.4     (s)     9.5     8.5     8.9     
    SPR......................   0.0     0.1    -0.1     (s)     (s)     (s)     
    Other....................   8.4     8.3     0.1     9.5     8.5     8.9     
  Products...................   2.2     2.1     (s)     2.5     2.2     2.9     
    Finished Motor Gasoline..   0.5     0.4     (s)     0.4     0.4     0.4     
    Distillate Fuel Oil......   0.2     0.2     (s)     0.3     0.3     0.6     
    Residual Fuel Oil........   0.2     0.2     (s)     0.4     0.2     0.4     
    Jet Fuel.................   0.1     0.1     (s)     0.1     0.1     0.2     
    Other Petro Products (c).   1.2     1.2     0.1     1.2     1.2     1.3     
                                                                                
Exports......................   0.9     0.9     (s)     0.9     0.9     1.0     
  Crude Oil..................   (s)     (s)     0.0     (s)     (s)     (s)     
  Products...................   0.9     0.9     (s)     0.9     0.9     0.9     
                                                                                
Total Net Imports............   9.7     9.6     0.1    11.0     9.8    10.9     
                                                                                
Stock Change (d).............  -0.1    -0.4     0.3     0.2    -0.1     0.1     
  Crude Oil..................   0.2     0.2     (s)     0.8     0.3     0.2     
  Products (f)...............  -0.3    -0.6     0.3    -0.6    -0.4    -0.1     
                                                                                
--------------------------------------------------------------------------------
Total Stocks (f)............. 1,559   1,561      -2   1,477       --      --    
(million barrels)                                                               
                                                                                
  Crude Oil..................   886     880       6     847       --      --    
    SPR (e)..................   561     560       1     542       --      --    
    Other....................   325     321       5     304       --      --    
  Products...................   672     681      -8     631       --      --    
    Finished Motor Gasoline..   159     161      -2     146       --      --    
    Distillate Fuel Oil (f)..   120     131     -11     105       --      --    
    Residual Fuel Oil........    35      38      -3      39       --      --    
    Jet Fuel.................    41      41     (s)      40       --      --    
    Other Petro Products (c).   318     311       7     301       --      --    
                                                                                
                                                                                
(a) Difference is equal to volume for current month minus volume for            
    previous month.                                                             
(b) Includes crude oil product supplied, natural gas liquids, liquefied         
    refinery gases (LRG's), other liquids, and all finished petroleum           
    products except finished motor gasoline, distillate fuel oil,               
    residual fuel oil, and jet fuel.                                            
(c) Includes natural gas liquids, liquefied refinery gases (LRG's), other       
    liquids, and all finished petroleum products except motor gasoline, jet     
    fuel, distillate fuel oil, and residual fuel oil.                           
(d) A negative number indicates a decrease in stocks and a positive number      
    indicates an increase.                                                      
(e) Crude oil stocks in the Strategic Petroleum Reserve include non-U.S.        
    stocks held under foreign or commercial storage agreements.                 
(f) Distillate fuel oil stocks located in "Northeast Heating Oil Reserve" are   
    not included.                                                               
(s) = Less than .05 million barrels per day, or less than 0.05 percent, or      
      less than 0.5 million barrels.                                            
                                                                                
Note: Totals may not equal sum of components due to independent rounding.