- US crude oil inventories surged: increased by 7.1 million bbls from the previous week
- US crude oil inventories surged: at 452.9 million bbls, US crude oil inventories now 4% above the 5-year average, and the 5-year rolling average continues to increase
- refineries: at 87.5% capacity; better than previous few weeks, but still well below what they could be doing
- US oil imports up by 1,084 million bbls/day -- probably the continued need by refineries for "heavy" oil
- over the past four weeks:
- gasoline product supplied: 8.9 million bbls/day (magic number: 10 million bbls/day)
- distillate fuel product supplied: 4.1 million bbls/day (magic number: 5 million bbls/day)
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 lifetime
|
Week 9
|
January 24, 2019
|
8.0
|
445.0
|
Won’t happen i my lifetime
|
Week 10
|
January 31, 2019
|
0.9
|
445.9
|
Won’t happen in my lifetime
|
Week 11
|
February 6, 2019
|
1.3
|
447.2
|
Won’t happen in my lifetime
|
Week 12
|
February 13, 2019
|
3.6
|
450.8
|
Won’t happen in my lifetime
|
Week 13
|
February 21, 2019
|
3.7
|
454.8
|
Won’t happen in my lifetime
|
Week 14
|
February 27, 2019
|
-8.6
|
445.9
|
Won’t happen in my lifetime
|
Week 15
|
March 6, 2019
|
7.1
|
452.9
|
Won’t happen in my lifetime
|
|
|
|
|
|
|
|
|
|
|
|
|
0.7
|
|
|
Preparation for a crude shortage during war.
ReplyDeleteThat may be.
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