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Sunday, January 5, 2020

Huge, Huge US Crude Oil Draw -- EIA -- January 5, 2020

EIA weekly report, the last week of 2019, data for week ending December 27, 2019:
  • weekly draw: an incredible 11.5 million bbls of oil; I don't recall seeing a number this big; certainly not in recent memory;
  • US crude oil in storage: 429.9 million bbls; at the five-year average
  • refineries operating at 94.5% capacity which has been trending higher over the past few weeks
  • jet fuel supplied was up 10% compared with same four-week period last year
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 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
Week 56
December 18, 2019
-1.1
446.8
Week 57
December 27, 2019
-5.5
441.4
Week 58
January 3, 2020
-11.5
429.9

Gasoline demand, link here:

2 comments:

  1. i'm running late, so you might already have it that the big draw was due to record exports...a blowout, too: almost 900K bpd higher than the previous record..
    https://rjsigmund.files.wordpress.com/2020/01/january4th2020usoilexportsasofdecember27.jpg

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    Replies
    1. No, I did not have time to look for the reason for the big draw. Good, bad, or indifferent, one has to love huge exports resulting in huge draw. Seems like it's a win-win on so many levels. Thank you for pointing that out.

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