Updates
Later, 8:52 p.m. Central Time: see first comment -- from a most knowledgeable reader on this subject -- I had "blown" this off -- not given it much thought (for various reasons) but the reader puts it in perspective and notes it is more important than I realized. From the reader:
The 4.237 million barrel drop in distillates inventories is worth mentioning, especially in light of low coal & gas supplies The drop in distillates was primarily driven by a 417,000 barrels per day increase to 4,886,000 barrels per day in product supplied, the 2nd highest on record, topped only by January 31 2003, which I would read as heat oil demand.
That now puts our distillate (heat oil) supplies 11% below the 5 year average going into the gut of winter, & might strain another fuel switching option, should the weather get cold enough to need it.In other words, as long as we have a warm winter, we might be okay --- but if we have a cold snap, it could get very interesting, very fast.
Original Post
Link here.
- US crude oil inventories: decreased by 0.5 million bbls
- US crude oil inventory: 441.5 million bbls; 7% above five-year average for this time of the year
- refiners working at 95.4% capacity; a bit on the slightly low side
- gasoline / distillate fuel production: no significant change
- for the first time in a long time, jet fuel supplied decreased; was down 5.8% compared with same four-week period last year
Week
|
Date
|
Change w-o-w
|
In Storage
|
Weeks to RB to 350 Million Bbls
|
Week 0
|
November 21, 2018
|
4.9
|
446.90
|
N/A
|
Week 1
|
November 28, 2018
|
3.6
|
450.50
|
N/A
|
Week 2
|
December 6, 2018
|
-7.3
|
443.20
|
N/A
|
Week 3
|
December 12, 2018
|
-1.2
|
442.00
|
Never
|
Week 4
|
December 19, 2018
|
-0.5
|
441.50
|
Never at this rate
|
