Days supply, link here: sixteen weeks of decreasing days of supply. Went below 30 days about a month ago, June 11, 2021, report. Last week, it had dropped to 28 days. Now, today's report, days of US crude oil drops to 27.5 days.
Gasoline demand, EIA, link here, ten million bpd:
i remember when you were waiting for it to go over ten million bpd five year ago...hope you weren't holding your breath all that time...
ReplyDeleteI go swimming with Sophia (age 7 years old, now) a lot. She is amazed how long I can hold my breath under water. But I cannot hold it that long. LOL. It will be interesting if the "demand" holds.
DeleteI would expect that the number of days supply of crude would decrease in a rising crude price environment. The demand (refiners) would drop off as price of crude to refiners increases. And 27 days would seem to be an adequate time for refiners to respond and avoid gasoline shortages down the road. But there is certainly a cliff out there somewhere as with many things in life.
ReplyDeleteOkay.
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