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.