Wednesday, August 7, 2019

EIA Weekly US Crude Oil Inventory Data -- August 7, 2019

Surprise (?) build.

Link here, pending.
  • US weekly crude oil change in inventory: an increase of 2.4 million bbls from previous week
  • US weekly crude oil inventory: now stands at 438.9 million bbls; about 2% above the five year average; and the 5-year average continues to increase
  • refinery operating capacity: 96.4% -- at the higher end of capacity; has been trending up over past few weeks
  • crude oil import last week: up a bit but not much
  • crude oil import average over last four weeks: almost 15% less than same period one year ago
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
Week 28
June 5, 2019
6.8
483.3
Week 29
June 12, 2019
2.2
485.5
Week 30
June 19, 2019
-3.1
482.4
Week 31
June 26, 2019
-12.8
469.6
Week 32
July 3, 2019
-1.1
468.5
Week 33
July 10, 2019
-9.5
459.0
Week 34
July 17, 2019
-3.1
455.9
Week 35
July 24, 2019
-10.8
445.1
Week 36
July 31, 2019
-8.5
436.5
Week 37
August 7, 2019
2.4
438.9

4 comments:

  1. this week's crude oil production was reported to be 100,000 barrels per day higher at 12,300,000 barrels per day even though the rounded estimate of the output from wells in the lower 48 states was unchanged at 11,800,000 barrels per day because a 9,000 barrels per day increase to 453,000 barrels per day in Alaska's oil production raised the final rounded national production total by 100,000 barrels per day..
    (that's the EIA"s math, not mine)

    ReplyDelete
    Replies
    1. Lots of numbers but if I understand this correctly, an estimated 9,000-bopd increase resulted in a final estimate of a total increase of 100,000 bbls.

      We've got the lower 48 and Alaska. Maybe we're missing the production coming out of Hawaii. LOL.

      Delete
  2. this week they flipped it....there was a 100K bpd increase in output from the lower 48, but because of a 20K bpd decrease in output from Alaska, dropping its output below 450K bpd, the national production total was reported as unchanged...

    we're lucky it's just Alaska...imagine if they rounded every state total separately before adding them together...

    ReplyDelete
    Replies
    1. Wow, that is bizarre. Thank you. At least we know their methodology.

      Delete

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