Re-Balancing -- September 13, 2017 -- Trending The Wrong Direction -- Now Up To 39 Weeks After Hitting A Low Of 27 Weeks Just Two Weeks Ago

From today's weekly petroleum report:

Week	Date	Drawdown	Storage	Weeks to RB
Week 0	Apr 26, 2017		529.0	180
Week 1	May 3, 2017	0.9	528.0	198
Week 2	May 10, 2017	6	522.0	50
Week 3	May 17, 2017	1.8	520.2	59
Week 4	May 24, 2017	4.4	515.8	51
Week 5	May 31, 2017	6.4	509.9	41
Week 6	June 7, 2017	-3.3	513.2	60
Week 7	June 14, 2017	1.7	511.5	57
Week 8	June 21, 2017	2.5	509.0	62
Week 9	June 28, 2017	-0.2	509.2	71
Week 10	July 6, 2017	6.3	502.9	58
Week 11	July 12, 2017	7.6	495.3	47
Week 12	July 19, 2017	4.7	490.6	43
Week 13	July 26, 2017	7.2	483.4	38
Week 14	August 2, 2017	1.5	481.9	43
Week 15	August 9, 2017	6.5	475.4	35
Week 16	August 16, 2017	8.9	466.5	30
Week 17	August 23, 2017	3.3	463.2	29
Week 18	August 30, 2017	5.4	457.8	27
Week 19	September 7, 2017	-4.6	462.4	32
Week 20	September 13, 2017	-5.9	468.2	39

The graphic for "gasoline demand" will be posted tomorrow by EIA. 

Also, from this week's weekly petroleum report (linked above):

• US crude oil refinery inputs were still less than the previous week (impact of Hurricane Harvey lingers)
• refineries operated at less than 80% of their operable capacity last week (the hurricane impact lingers; less than 80% is simply "unprecedented")
• however, gasoline production increased last week, averaging almost 10 million bbls per day (actual: 9.9 million b/d)
• crude oil imports significantly down
• total refinery products were down 08% from the same period last year
• over the last four weeks, motor gasoline product supplied averaged about 9.6 million b/d, up 0.2% from the same period last year (despite Hurricane Harvey)
• however, look at this, distillate fuel product supplied averaged over 4.0 million b/d over the last four weeks, up over 10% from the same period last year -- that's huge