Updates
Later, 3:54 p.m. CT: see first comment and this link -- https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W.
Original Post
The EIA weekly petroleum report is scheduled to be released today. Earlier, the EIA said their reports would not be delayed due to the partial government shutdown.
Link here.
Weekly US petroleum report, EIA:
- US crude oil inventories decreased by 2.7 million bbls
- WTI upon the news: up 9 cents, at $52.20
- US crude oil inventories: now at 437.1 million bbls
- US crude oil inventories: now 8% above the 5-year average -- and remember, the 5-year average continues to increase; the Saudi surge, 2014 - 2016 certainly re-set the numbers
- refiners are operating at a 94.6% capacity; trending lower
- motor gasoline inventories about 6% above the 5-year average
- distillate fuel product supplied was down almost 9% from the same period last year
- jet fuel supplied was down almost 6% compared with same four-week period last year
Re-balancing to 400 million bbls in storage:
Week
|
Date
|
Change w-o-w
|
In Storage
|
Weeks to RB to 350 Million Bbls
|
Week 0
|
November 21, 2018
|
4.9
|
446.9
|
N/A
|
Week 1
|
November 28, 2018
|
3.6
|
450.5
|
N/A
|
Week 2
|
December 6, 2018
|
-7.3
|
443.2
|
N/A
|
Week 3
|
December 12, 2018
|
-1.2
|
442.0
|
Never at this rate
|
Week 4
|
December 19, 2018
|
-0.5
|
441.5
|
Never at this rate
|
Week 5
|
December 28, 2018
|
0.0
|
441.4
|
Never at this rate
|
Week 6
|
January 4, 2019
|
0.0
|
441.4
|
Never at this rate
|
Week 7
|
January 9, 2019
|
-1.7
|
439.7
|
A long, long time
|
Week 8
|
January 16, 2019
|
-2.7
|
437.1
|
Won’t happen in my life time
|
here's something everyone, including me, has been missing..
ReplyDeletehttps://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W
i've known all along they've been selling off the SPR, but hadn't really quantified it...bet if you adjusted total oil inventories for population, or for refinery consumption, we'd be right in the normal range...