John Kemp's Weekly Energy Tweets -- November 18, 2015

John Kemp's tweets:

• California's gasoline demand growth slowed over the summer. Article at Reuters.
• US gasoline stocks are in line with long-term seasonal average when adjusted for increased consumption. [There are several story lines in that sentence.]
• US refined products stocks -- the line if off the graph -- were unchanged last week after 8 straight weeks of drawdowns.
• US commercial crude stocks were unchanged last week after seven weeks of large builds.The line is still almost off the chart.
• US refiners continued to return from maintenance with processing up another 137,000 bopd to 16.1 million bopd. The line is slightly above last's year line, which set the top for the past ten years.
• US propane market remains severely oversupplied with another counterseasonal build to a new record of 104 million bbls. The graph is incredibly staggering. Last year, propane stocks set a 10-year record at 80 million bbls; last week: 104 million bbls. The 10-year low was around 25 million bbls.
• Residual fuel oil stocks continue to climb and are now at the highest seasonal level for more than a decade (for this time of the year; stocks have been higher in the second quarter in the last decade.
• US distillate stocks were little changed last week either nationally or along the East Coast.
• Polar vortex could see temperatures plunge early in 2016. Times of Malta is reporting.
• Rhine River (Germany, Europe) water levels are at record low disrupting fuel shipments to central European markets.

Platts is tweeting:

• Saudi Arabian crude oil exports were up 113,000 bopd to 7.11 million bopd; total output fell to 10.226 million bopd fro 10.265 million bopd.

EIA is tweeting:

• US commercial crude oil inventories were up 300,000 bbls; refinery utilization at 90%.

PennEnergy is tweeting:

• BP to sell its Decatur, AL, petrochem complex as part of broad reorganization.
• Apple (the computer company) will open a retail store in Singapore powered only by the sun.

  Here Comes The Sun, George Harrison