Wednesday, February 28, 2018

Re-Balancing Back Up To 28 Weeks; WTI Down To $62.26 -- February 28, 2018

EIA weekly petroleum report: link here
  • see graphics here
  • US crude oil inventories: increased by 3 million bbls; now at 423,5 million bbls;  
  • refineries operating at 88% of their operable capacity
  • gasoline production decreased; down to 9.4 million bpd (number to watch: 10 million bbls)
  • distillate fuel remain unchaned, at 4.5 million bopd (number to watch: 5 million bbls)
  • total products supplied, up 2.7% from same period last year
  • gasoline product supplied over last four weeks, averaged 9.0 million bbls, up almost 4% from same period last year
Gasoline demand chart: pending.

Re-balancing:

Week
Date
Drawdown
Storage
Weeks to RB
Week 0
Apr 26, 2017

529.0
180
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
Week 36
January 4, 2018
7.4
424.5
25
Week 37
January 10, 2018
4.9
419.5
23
Week 38
January 18, 2018
6.9
412.7
20
Week 39
January 24, 2018
1.1
411.6
20
Week 40
January 31, 2018
-6.8
418.4
24
Week 41
February 7, 2018
-1.9
420.3
26
Week 42
February 14, 2018
-1.8
422.1
27
Week 43
February 21, 2018
1.6
420.5
27
Week 44
February 28, 2018
3.0
423.5
28

Gasoline demand: link here.


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