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Wednesday, November 1, 2017

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



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