- wow, wow, wow -- API and EIA certainly don't agree on this data point -- US crude oil inventories
- EIA; US crude oil inventories declined by a whopping 7.3 million bbls
- US crude oil inventory now at 443.2 million bbls; at 6%, down from 7%, above the five-year average
- refineries working at 95.5% of their capacity; sort of a middling number
- gasoline production responding to gasoline demand: below 10 million bpd
- distillate production responding to global warming: well over 5 million bpd (at 5.6 million bpd)
- remember all that talk about increasing imports -- not so fast -- most recent data, US crude oil imports were down by almost one million bbls per day (actual, 943,000 bpd)
- total distillate fuel supplied was 4.1 million bbls, up 5% from year ago
- jet fuel up again; up almost 4% from a year ago
Week
|
Date
|
Change w-o-w
|
In Storage
|
Week 0
|
Nov 21, 2018
|
4.9
|
446.9
|
Week 1
|
November 28, 2018
|
3.6
|
450.5
|
Week 2
|
December 6, 2018
|
-7.3
|
443.2
|
WTI: "tanks" despite large US draw
- WTI sinks almost 4%; down $1.86 / bbl; trading right at $51
- obviously, as posted just moments ago, the news coming out of OPEC is not good for oil bulls
- will OPEC get it right this time around; can US shale operators handle a second round?
- Canada in deep trouble; a lot of social programs to pay for
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A Seafood Luncheon
Conch and octopus. Neither has any taste -- it's all about the condiments, salad, tempura, etc. Both are over-rated. Either that or I haven't found the best recipe yet.
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