Wednesday, April 17, 2019

A Fairly Unremarkable Weekly Petroleum Report -- April 17, 2019

Weekly EIA petroleum report, link here, data points:
  • US crude oil inventories decreased by 1.4 million bbls
  • US crude oil inventories now stand at 455.2 million bbls, about 2% below the five-year average; and the 5-year average has been rising over the past year or so
  • refineries operating at 87.7% capacity
  • a fairly unremarkable report compared to the past few weeks
Re-balancing:

Week
Week Ending
Change 
Million Bbls Storage
Week 0
November 21, 2018
4.9
446.9
Week 1
November 28, 2018
3.6
450.5
Week 2
December 6, 2018
-7.3
443.2
Week 3
December 12, 2018
-1.2
442.0
Week 4
December 19, 2018
-0.5
441.5
Week 5
December 28, 2018
0.0
441.4
Week 6
January 4, 2019
0.0
441.4
Week 7
January 9, 2019
-1.7
439.7
Week 8
January 16, 2019
-2.7
437.1
Week 9
January 24, 2019
8.0
445.0
Week 10
January 31, 2019
0.9
445.9
Week 11
February 6, 2019
1.3
447.2
Week 12
February 13, 2019
3.6
450.8
Week 13
February 21, 2019
3.7
454.8
Week 14
February 27, 2019
-8.6
445.9
Week 15
March 6, 2019
7.1
452.9
Week 16
March 13, 2019
-3.9
449.1
Week 17
March 20, 2019
-9.6
439.5
Week 18
March 27, 2019
2.8
442.3
Week 19
April 3, 2019
7.2
449.5
Week 20
April 10, 2019
7.0
456.5
Week 21
Apr 17, 2019
-1.4
455.2

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Putting Things Into Perspective

From twitter today:

  • $5 billion / year / population of US = $5 billion / 300 million = $20/person/year
  • per day = 5 cents/day/per person
Color me unimpressed / not excited about monetary concern over sanctions on Venezuela and Iran
In addition, the $5 billion / year cost contains many assumptions. The biggest assumption, of course, is that as the price of oil goes up, the price of gasoline goes up, and American drivers don't change their driving habits.

2 comments:

  1. If President 0 would have allowed the Keystone pipe line XL in 2009 , Gasoline would be 50 cents cheaper now.. No he pushed for Ethanol and this took 3,000,000 acres of North Dakota CRP acreage out ( wildlife and Bird cover ) and placed it in Crop Production.. don

    ReplyDelete
    Replies
    1. He was a "disaster" on so many levels. As time goes on, it becomes obvious how much harm he did to the country.

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