Thursday, May 30, 2019

EIA Weekly Petroleum Report; Unremarkable -- May 30, 2019

Link here. Pending; to be released at 10:00 a.m. CT.
  • US crude oil inventory change, weekly: (yesterday API reported a draw of almost 6 million bbls) -- the EIA reports that the weekly change was almost flat -- the change was a meaningless draw of 0.3 million bbls -- again, the false precision .... 0.3 million / 476.5 million = 0.000629 or 0.063%
  • US crude oil inventory, weekly: 476.5 million bbls; about 5% above the five-year average
  • Refinery operating capacity: finally, above 90% but not by much -- at 91.2%;
  • gasoline: inventories are about 1% above the 5-year average, having increased by 2.2 million bbls
  • distillate fuel inventories decreased by 1.6 million bbls and are about 5% below the 5-year average
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
454.5
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
April 17, 2019
-1.4
455.2
Week 22
April 24, 2019
5.5
460.1
Week 23
May 1, 2019
9.9
470.6
Week 24
May 8, 2019
-4.0
466.6
Week 25
May 15, 2019
5.4
472.0
Week 26
May 22, 2019
4.7
476.8
Week 27
May 30, 2019
-0.3
476.5

Natural gas fill rate: from twitter, natural gas storage change, link here:
  • storage fill of 114 bcf from previous week
  • vs estimate of 98
  • previous 100

A sharper rise than last year but still a smooth climb.

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