- US crude oil in storage: 447.9 million bbls
- US crude oil in storage, week-over-week change: a meager increase of only 0.8 million bbls
- refiners operating at 90.6% capacity which is really low, and yet there was only a build of 0.8 million bbls; let's look at imports --
- imports: hmmm, interesting. Imports averaged almost 7 million bbls per day last week which is up by almost a million bbls per day from the previous week; but still, the four-week average is almost 20% less than this time last year. So, it is what it is. My hunch, a reader will help explain all this.
- Jet fuel production was up almost 3% compared with same four-week period last year
- despite the meager increase, WTI was down $1.03 after the report; but still above $58; one wonders if the Chevron's news brought WTI down; oilprice said the drop in WTI price was due to the "build," but, of course, that's ridiculous -- unless, of course, it's because analysts had expected a draw of 3 million bbls -- whatever --
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
|
Week 51
|
November 14, 2019
|
2.2
|
449.0
|
Week 52
|
November 20, 2019
|
1.4
|
450.4
|
Week 53
|
November 27, 2019
|
1.6
|
452.0
|
Week 54
|
December 4, 2019
|
-4.9
|
447.1
|
Week 55
|
December 11, 2019
|
0.8
|
447.9
|
