Wednesday, December 2, 2015

Saudi Oil Imports Into The US Plummet -- December 2, 2015

Most recent EIA data, in thousands of bopd, how much Saudi Arabian oil is imported into the US. The most recent data is from September, 2015. It's been this low before, but not often:

Total imports haven't changed a whole lot. It looks like Kuwait, Iraq, and west Africa are making up the difference, at least for this most recent reporting period. Remember, Saudi Arabia has a huge refinery along the US Gulf coast.

This was totally unexpected. US gasoline demand has fallen below what it was one year ago:

Pretty soon, gas stations are going to have to reintroduce S&H green stamps. I grew up with those stamps.

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