US Crude Oil Inventories Week-Over-Week Change: Flat -- January 302, 2019

Link here.

Data points:

• weekly US crude oil inventories: flat -- inventories increased by 0.9 million bbls from previous week
• weekly US crude oil inventories: 7% above five-year average and the five-year average continues to trend upward
• WTI: up about 1.75%; trading right at $54
• imports: interesting -- imports were down by 1.1 million bopd from the previous week; not trivial
• imports: averaging about 7.7 million bopd, 4.5% less than the same four-week period last year
• refineries operating at 90.1% capacity -- it will be interesting to hear analysis of this; I don't know why but this is very, very, very low
• gasoline and distillate production "in line"
• jet fuel supplied was down about a percent

Gasoline demand spikes: link here.

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South Korea's US Energy Picture

Data points, link here:

• South Korea: world's fourth-largest oil importer
• 2018: 
• US exported almost 60 million bbls to South Korea 
• US exported almost 5 million tons of LNG to South Korea
• US has become South Korea's sixth-largest supplier overtaking Iran (sanctions) and Russia
• US is South Korea's third-largest LNG supplier
• South Korea is now the US' largest LNG customer 
• 2019:
• the numbers will increase

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