Link here. One wonders how the "peak oil" folks are explaining all this. Peak Oil Barrel last posted a note on October 31, 2018.
By the way, on another note, more confirmation that all that talk about Iranian sanctions was background noise. The only thing that matters when it comes to global crude oil production is that produced by Saudi Arabia, Russian, and the US. Everything else is simply background noise. See this post, well played, Mr Trump.
I quit following the weekly inventory figures earlier this year: this was one of the last, if not the last, spreadsheet that I posted.
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
|
It looks like it might be worthwhile to press on following this.
Week 40, January 30, 2018: a gain of 6.8 million bbls
Week 46, March 14, 2018: a gain of 5.0 million bbls
These are EIA figures.
The most current EIA figures will be released tomorrow.
So much for all that re-balancing.
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