The Energy And Market Page, Page 2, T+284 -- November 1, 2017 -- 38 Weeks To Re-Balance; Gasoline Production Has Increased

Ford: October sales sail past estimates --

• unit sales: up 6.2% vs 3.9% estimate
• Truck sales up, +11.4%
• SUV sales up, +5.3%
• passenger car sales down, -2.4%
• EVs sales: not mentioned

GM, Fiat Chrysler post declines.

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Weekly Petroleum Report

US crude oil inventories decreased by 2.4 million bbls from the previous week, from the weekly petroleum report . Now at 454.9 million bbls. I will wort this out later.

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	48
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
Week 21	September 20, 2017	-4.6	472.8	46
Week 22	September 27, 2017	1.8	471.0	46
Week 23	October 4, 2017	6.0	465.0	41
Week 24	October 12, 2017	2.8	462.2	40
Week 25	October 18, 2017	5.7	456.5	37
Week 26	October 25, 2017	-0.9	457.3	39
Week 27	November 1, 2017	2.4	454.9	38

Other data points from the most recent weekly petroleum report:

• refinery utilization still below 90% (at 88%); and, not only that, but 10,000 b/d less than the previous week's average
• gasoline production increased; now averaging 10.2 million b/d
• distillate fuel production also increased; now averaging over 5.0 million b/d
• gasoline production supplied average over 9.3 million b/d, up by almost 3% from the same period last year
• we will see the graph for gasoline demand tomorrow