Wednesday, July 30, 2014

Weekly US Petroleum Report -- EIA; Gasoline Production Decreased But Inventories Up Slightly; Crude Oil Imports Increased; Total US Crude Oil Inventories Continue To Decrease -- July 30, 2014

For week ending July 25, 2014.

Some data points:
  • crude oil inputs averaged 47,000 bopd less than previous week (a bigger decline than the previous week, which was 28,000 bopd)
  • refineries operating at 94% capacity -- high capacity (same as last week)
  • gasoline production decreased  (last week increased)
  • crude oil imports up a huge 337,000 bopd (last week down 20,000 bopd)
  • US crude oil inventories decreased by 3.7 million bbls (also decreased last week; decreased by 4 million bbls the previous week)
  • total motor gasoline inventories increased by 0.4 million bbls last week
This is what jumped out at me: The US enters its highest driving month (August) and already gasoline production is dropping (preparing for autumn/winter, already? I don't know but it is interesting).

The other big item: look at the huge increase in crude oil imports -- compared to the previous week (337,000 bopd vs 20,000 the previous week). There is a glut of US oil coming out of the Permian, Bakken, and Eagle Ford, so why would imports increase? Just background variability, no doubt, no big deal, but remember, the US refineries along the Gulf coast need imported heavy oil to mix with all that light oil; the US refineries along the Gulf coast are configured for heavy oil, and with the Keystone XL killed (thank you, Mr Obama), the US needs to import heavy oil from our close, stable, democratic ally, the country formerly led by Hugo Chavez. Disclaimer: I go through the report very quickly and may make typographical errors. That's why I include the link. Also, I may misinterpret what I read. 

Exactly What Is The UN Doing Storing Rockets In Gaza Schools?

The United Nations Relief & Works Agency For Palestine Refugees (UNRWA) announced Tuesday that another rocket stockpile has been found at one of its schools in Gaza. This instance marks the third time since the beginning of Operation Protective Edge that a weapons arsenal has been found at an UNRWA school in Gaza.
Once: shame on you. Twice: same on me. Thrice: phoning it in.

Once found, the UN returns the rockets to Hamas:
UNRWA has yet to place blame on any individuals or organizations for placing the weapons stockpile within a children’s school. The UN body refused to do so on the past two previous occasions as well.
The UN body, after both previous findings, has handed the rockets it had found back into the possession of “the local police," otherwise known as the terrorist group Hamas.
This week, UNRWA supplies and building materials had been found in Hamas’s tunnel infrastructure, which has been used to smuggle weapons and carry out attacks on the State of Israel.

No comments:

Post a Comment