Re-Balancing Remains At 33 Weeks -- March 29, 2018

Yesterday:

Weekly petroleum report:

• crude oil inventories: increased by 1.6 million bbls; now at 429.9 million bbls
• refineries operating at 92.3% operable capacity -- nice; pretty much the sweet spot between 92 - 94%
• gasoline production up a bit; distillate fuel production up a bit
• if folks weren't following crude oil inventories so closely, this would pretty much be a ho-hum report

Today, the re-balancing spreadsheet (minor process change made in the third column but it does not affect the bottom line). Re-balancing remains at 33 weeks.

Week	Date	Drawdown	Storage	Weeks to RB
Week 0	Apr 26, 2017		529.0	180
Week 24	October 12, 2017	-2.8	467.8	40
Week 25	October 18, 2017	-5.7	473.5	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	-6.9	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	-1.6	423.5	28
Week 45	March 7, 2018	2.4	425.9	29
Week 46	March 14, 2018	5	430.9	33
Week 47	March 21, 2018	-1.6	428.3	32
Week 48	March 28, 2018	1.6	429.9	33

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Galveston, Glenn Campbell