Monday, February 6, 2017

Platts Forecasts Another 1.2 Million-Bbl Build in Gasoline Stocks Next Reporting Period; Huge Jump In 1Q17 GDP Forecast -- February 6, 2017

Note recent post on gasoline demand.

Platts reports today, Monday, February 6, 2017, it expects US gasoline stocks to rise another 1.2 million bbls when the data is presented later this week. The four data point/estimates:
  • gasoline stocks: to rise 1.2 million bbls
  • distillate inventories: to rise 1.1 million bbls
  • refinery utilization: to remain unchanged (has slowed recently but has been higher than normal for this time of year)
  • crude oil stocks: to increase 2.5 million bbls
We'll know later this week how their projections/estimates came out.


Latest forecast for 1Q17: 3.4 percent — February 1, 2017
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 3.4 percent on February 1, up from 2.3 percent on January 30, 2017.
After this morning's ISM Report On Business from the Institute for Supply Management and the construction spending release from the U.S. Census Bureau, the forecasts for first-quarter real personal consumption expenditures growth and real private fixed investment growth increased from 3.0 percent to 3.8 percent and 4.7 percent to 8.0 percent, respectively.

Atmospheric CO2

Huge jump from January, 2016, one year ago.
  • 406/1,000,000 this year. 
  • 402.5/1,000,000 this year.
3.5 ppms jump in one year.

3.5 / 402.5 = 0.87% jump in atmospheric CO2 in one year. At this rate, we could hit 410 ppm by next January, 2018.

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