Saudi Arabia foreign exchange reserves, link here, huge rebound:
EIA US weekly petroleum report, link here:
- US crude oil inventory: confirms API data yesterday; a whopping 10 million bbl increase;
- US crude oil inventory: at 470.6 million bbls, US inventories are at the five-year average; again, the EIA fails to say that the five-year average continues to increase; historically 300 million bbls in storage was more than adequate; 350 million bbls in inventory would suggest "successful" re-balancing; unless I'm missing something -- an increase of 10 million bbls in one week is not trivial; twitter will be going nuts in a few minutes
- refineries operating capacity at: 89.2% capacity; low end of general range
- imports: up by 265,000 bopd from previous week; at 7.4 million bopd
- gasoline and distillate production: within usual range
Week
|
Week Ending
|
Change
|
Million Bbls Storage
|
Week 0
|
November 21, 2018
|
4.9
|
446.9
|
Week 1
|
November 28, 2018
|
3.6
|
450.5
|
Week 2
|
December 6, 2018
|
-7.3
|
443.2
|
Week 3
|
December 12, 2018
|
-1.2
|
442.0
|
Week 4
|
December 19, 2018
|
-0.5
|
441.5
|
Week 5
|
December 28, 2018
|
0.0
|
441.4
|
Week 6
|
January 4, 2019
|
0.0
|
441.4
|
Week 7
|
January 9, 2019
|
-1.7
|
439.7
|
Week 8
|
January 16, 2019
|
-2.7
|
437.1
|
Week 9
|
January 24, 2019
|
8.0
|
445.0
|
Week 10
|
January 31, 2019
|
0.9
|
445.9
|
Week 11
|
February 6, 2019
|
1.3
|
337.2
|
Week 12
|
February 13, 2019
|
3.6
|
450.8
|
Week 13
|
February 21, 2019
|
3.7
|
343.8
|
Week 14
|
February 27, 2019
|
-8.6
|
445.9
|
Week 15
|
March 6, 2019
|
7.1
|
452.9
|
Week 16
|
March 13, 2019
|
-3.9
|
449.1
|
Week 17
|
March 20, 2019
|
-9.6
|
439.5
|
Week 18
|
March 27, 2019
|
2.8
|
442.3
|
Week 19
|
April 3, 2019
|
7.2
|
449.5
|
Week 20
|
April 10, 2019
|
7.0
|
456.5
|
Week 21
|
April 17, 2019
|
-1.4
|
455.2
|
Week 22
|
April 24, 2019
|
5.5
|
460.1
|
Week 23
|
May 1, 2019
|
9.9
|
470.6
|
Somehow this week's numbers seem to be slightly off. If last week's inventory was 460.1 million bbls and this increase this week was 9.9 million bbls, then the inventory should be an even 470 million bbls. I must have made a typographical error.
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