- week-over-week crude oil inventories decreased by 7.4 million bbls
- US crude oil inventories now stand at 518.6 million bbls, about 16% above the 5-year average for this time of year
- refiners are operating at 79.6% of their operable capacity
- jet fuel product supplied was down 40.9% compared with same four-week period last year
|
Week |
Date of Report= |
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 76 |
May 20, 2020 |
-5.0 |
526.5 |
|
|
Week 77 |
May 28, 2020 |
7.9 |
534.4 |
|
|
Week 78 |
June 3, 2020 |
-2.1 |
532.3 |
|
|
Week 79 |
June 10, 2020 |
5.7 |
538.1 |
|
|
Week 80 |
June 17, 2020 |
1.2 |
539.3 |
15% |
|
Week 81 |
June 24, 2020 |
1.4 |
540.7 |
16% |
|
Week 82 |
July 1, 2020 |
-7.2 |
533.5 |
15% |
|
Week 83 |
July 8, 2020 |
5.7 |
539.2 |
18% |
|
Week 84 |
July 15, 2020 |
-7.5 |
531.7 |
17% |
|
Week 85 |
July 22, 2020 |
4.9 |
536.6 |
19% |
|
Week 86 |
July 29, 2020 |
-10.6 |
526.0 |
17% |
|
Week 87 |
August 5, 2020 |
-7.4 |
518.6 |
16% |
|
Jet Fuel Delivered, Change, Four-Week/Four-Week |
|
|
|
Week |
Date of Report |
Change |
|
Week 0 |
3/7/2020 |
-12.80% |
|
Week 1 |
3/14/2020 |
-12.60% |
|
Week 2 |
3/21/2020 |
-8.90% |
|
Week 3 |
3/28/2020 |
-16.40% |
|
Week 4 |
4/4/2020 |
-0.22% |
|
Week 5 |
4/11/2020 |
-39.70% |
|
Week 6 |
4/18/2020 |
-53.60% |
|
Week 7 |
4/24/2020 |
-61.60% |
|
Week 8 |
5/1/2020 |
-66.60% |
|
Week 9 |
5/8/2020 |
-68.50% |
|
Week 10 |
5/15/2020 |
-67.90% |
|
Week 11 |
May 22, 2020 |
-66.60% |
|
Week 12 |
June 3, 2020 |
-68.70% |
|
Week 13 |
June 10, 2020 |
-63.70% |
|
Week 14 |
June 17, 2020 |
-62.30% |
|
Week 15 |
June 24, 2020 |
-62.50% |
|
Week 16 |
July 1, 2020 |
-60.00% |
|
Week 17 |
July 8, 2020 |
-57.20% |
|
Week 18 |
July 15, 2020 |
-51.90% |
|
Week 19 |
July 22, 2020 |
-47.70% |
|
Week 20 |
July 29, 2020 |
-42.10% |
|
Week 21 |
August 5, 2020 |
-40.90% |
|
Crude Oil Imports |
|
|
|
|
|
Week (week-over-week) |
Date of Report |
Raw Data, millions of bbls |
Change (millions of bbls) |
Four-week period comparison |
|
Week 0 |
March 11, 2029 |
6.4 |
0.174 |
|
|
Week 1 |
March 18, 2020 |
6.5 |
0.127 |
|
|
Week 2 |
March 25, 2020 |
6.1 |
-0.422 |
|
|
Week 3 |
April 1, 2020 |
6.0 |
-0.070 |
|
|
Week 4 |
April 8, 2020 |
5.9 |
-0.173 |
|
|
Week 5 |
April 15, 2020 |
5.7 |
-0.194 |
|
|
Week 6 |
April 22, 2020 |
5.6 |
-0.700 |
|
|
Week 7 |
April 29, 2020 |
5.3 |
0.365 |
-19.700% |
|
Week 8 |
May 6, 2020 |
5.7 |
0.410 |
|
|
Week 9 |
May 13, 2020 |
5.4 |
-0.321 |
-26.100% |
|
Week 10 |
May 20, 2020 |
5.2 |
-0.194 |
|
|
Week 11 |
May 28, 2020 |
7.2 |
2.000 |
-16.400% |
|
Week 12 |
June 3, 2020 |
6.2 |
-1.000 |
-18.300% |
|
Week 13 |
June 10, 2020 |
6.4 |
0.000 |
-13.300% |
|
Week 14 |
June 17, 2020 |
6.6 |
-0.222 |
-10.000% |
|
Week 15 |
June 24, 2020 |
6.5 |
-0.102 |
-11.600% |
|
Week 16 |
July 1, 2020 |
6.5 |
-0.600 |
-11.300% |
|
Week 17 |
July 8, 2020 |
7.4 |
1.400 |
-8.500% |
|
Week 18 |
July 15, 2020 |
7.5 |
-1.800 |
-10.200% |
|
Week 19 |
July 22, 2020 |
5.9 |
0.373 |
-13.500% |
|
Week 20 |
July 29, 2020 |
5.1 |
-0.800 |
-13.600% |
|
Week 21 |
August 5, 2020 |
6.0 |
0.900 |
-18.100% |
Actually net imports after oil and product exports is ~1.3 million barrels. A lot of the refineries are engineered for heavy oil not light oil. I believe this is the reason for 6 million barrel of imported oil.
ReplyDeleteIf I made a mistake on the imports, I will go back and correct it. I was in a hurry.
DeleteBut you are absolutely correct about heavy oil and light light; we've discussed it often on the blog. There is nothing wrong with imports; there is a reason the refineries are importing (heavy) oil. Thank you for taking time to write and pointing that out.
Waiting for next week, it will be a nice trend if there are three weeks of draw in a row. Time will tell. Marathon ran its report today. Talking about bakken costs being exceptional low, I think it translate to about 4.5 million per well.
ReplyDeleteThank you. I'm out in Montana with family so I'm not keeping up with all this, so I appreciate the notes. I will definitely note this in a stand-along blog when I get caught up. There are many reasons these wells are coming in at low costs.
Delete