August 27, 2015, Part III -- Gasoline Demand Unexpectedly Declines; Up 5.5% Year-Over-Year

Tweeting now: OPEC crude oil exports fall by 470,000 b/d in 4 weeks to Sep 12 to average 23.71 mil b/d, says UK-based analyst Oil Movements.

It would be interesting to know which OPEC countries accounted for the half-million bopd decline. The OPEC crude oil exports is global. I don't know how much OPEC exports globally. However, the US imports about 4 million bopd from OPEC. Let's round that to 4.7 million bopd. 470K / 4,700K = 10%.

Tweeting now: WTI soars almost 6% ($2.20) on short covering.

Natural gas fill rate (dynamic link): 69.

In the East Region, stocks were 59 Bcf below the 5-year average following net injections of 53 Bcf. 

Gasoline demand (dynamic link): down to 9.189 million bopd from last week's 9.705 million bopd. Quite a surprise. I did not expect that. Did the high prices in California ruin the chance for a new record? Quite possibly. The four-week average was down slightly, from 9.604 million bopd to 9.567 million bopd. One year ago, gasoline demand was running around 9.1 million bopd. 500,000 bbls/9.1 million bbls = 5.5% increase year-over-year.