Updates
May 8, 2019: good news? Or is the data being manipulated? Or not fully explained? Or are analysts / research firms trying to CTA? If you don't like the EIA data, you have any number of analysts from which to choose. Good luck to all.
Original Post
Link here. EIA data:
- weekly crude oil inventories: decreased by 4.0 million bbls -- amazing how free-market capitalism works
- currently crude oil in storage:466.6 million; at the 5-year average -- well, sort of
- total motor gasoline: decreased a bit; about 2% below the 5-year average (much of this due to California issues)
- refineries: at 88.9% operating capacity; again, much of this is due to California)
- look at this: jet fuel product supplied up almost 7% compared with four-week period last year
Javier Blas, #OOTT: U.S. imports of Saudi Arabia crude collapsed last week to 311,000 b/d -- lowest in weekly data going back to 2010 (and most likely the lowest since the mid-1980s, based on monthly data).
Venezuela: imports dropped back to zero. Nada. Zilch. Previous week, US imported 186,000 bbls from Venezuela; compare with 311,000 bbls imported from Saudi Arabia last week.
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
|
337.2
|
Week 12
|
February 13, 2019
|
3.6
|
450.8
|
Week 13
|
February 21, 2019
|
3.7
|
343.8
|
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
|
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
|
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