EIA Weekly Crude Oil Report -- Back To Where We Were One Year Ago -- November 6, 2019

Link here.

• US crude oil in storage, weekly change: increased by a whopping 7.9 million bbls
• WTI: $57.72 -- up 49 cents (at 10:37 a.m. EST)
• WTI: $56.22 -- down $1.01; down 1.76% -- 12:06 p.m. EST -- took a bit of time to re-act?
• US crude oil in storage: at 446.8 million bbls, about 3% above the five-year average, and the 5-year average has been trending higher for the past several years
• refineries operating at a very low 86% of their capacity
• most interesting: jet fuel product supplies was up 7.5% compared with same four-week period last year -- jet-setting global warming nuts flying more and more, apparently  

Re-balancing (note: weeks 6 - 42 are "hidden" to keep the size of the spreadsheet manageable).

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 43	September 18, 2019	1.1	417.1
Week 44	September 26, 2019	2.4	419.5
Week 45	October 2, 2019	3.1	422.6
Week 46	October 9, 2019	2.9	425.6
Week 47	October 17, 2019	9.3	434.9
Week 48	October 23, 2019	-1.7	433.2
Week 49	October 30, 2019	5.7	438.9
Week 50	November 6, 2019	7.9	446.8

Note: today's storage number of 446.8 million bbls is almost exactly what it was one year ago, November 21, 2018, when it was 446.9 million bbls. I don't see a lot of re-balancing.

Saudi Arabian imports: it would be interesting to see who in the US is buying Saudi oil. The only two "locations" of which I would know: a) California; and, b) possibly Saudi's refinery along the Gulf Coast.