- US crude oil inventories decreased by 4.6 million bbls (elsewhere it was said that this was more than expected) -- now in the middle of the average range for this time of the year -- this is the first time this comment has been made in quite some time
- refinery operating capacity: a nice jump -- nearing 96% (reported: 95.7%)
- gasoline production increased, now at 10.2 million bopd
- distillate fuel production also increased, now at 5.5 million bopd
- gasoline inventories actually decreased, but distillate inventories increased
- here's the "gasoline demand" graphic --
Link here.
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
|
46
|
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
|
Week 28
|
November 8, 2017
|
-2.2
|
457.1
|
42
|
Week 29
|
November 15, 2017
|
1.9
|
459.0
|
43
|
Week 30
|
November 22, 2017
|
1.9
|
457.1
|
42
|
Week 31
|
November 29, 2017
|
3.4
|
453.7
|
41
|
Week 32
|
December 6, 2017
|
5.6
|
448.1
|
37
|
Week 33
|
December 13, 2017
|
5.1
|
443.0
|
36
|
Week 34
|
December 20, 2017
|
6.5
|
436.5
|
30
|
Week 35
|
December 28, 2017
|
4.6
|
431.9
|
28
|
Re-balancing projections are based on returning to 350 million bbls in storage (not including SPR) and starting from May 3, 2017. If the re-balancing were to go to 400 million bbls then re-balancing would project out to only eleven (11) more weeks.
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