Wednesday, November 14, 2018

Did Y'all See This? API US Crude Oil Inventory --- Up Another Whopping 9 Million Bbls -- November 14, 2018

Link here.
The American Petroleum Institute reported late Wednesday that U.S. crude supplies rose by 8.8 million barrels for the week ended Nov. 9, according to sources.
The API data, which was released a day later than usual because of Monday's Veterans Day holiday, also showed gasoline supplies edged up by 188,000 barrels while distillate stockpiles fell 3.2 million barrels, sources said.
Inventory data from the Energy Information Administration will be released Thursday. Analysts polled by S&P Global Platts expect the EIA to report a climb of 2.3 million barrels in crude supplies.  
Absolutely incredible.

When I was tracking this, back in 2017, for two years, I do not recall any increase of 9 million bbls of oil. This is staggering. I quit tracking this back in March, 2018. Maybe I need to start tracking it again. My threshold: 400 million bbls.

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
Week 45
March 7, 2018
2.4
425.9
29
Week 46
March 14, 2018
-5.0
430.9
33

2 comments:

  1. Please start tracking again. Differentials are set to spike badly among never ending flow of cheap WCS. Brookfield $15.50 for December... love this blog best source of Bakker news out there!

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    Replies
    1. I may start following it again. We'll see. Thank you for the kind words about the blog.

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