- EOG: gives back its recent gains
- IMUX: gains almost a percent
- US crude oil in storage increased by 1.2 million bbls (didn't API say it was going to decrease by a significant amount? Whatever.)
- US crude oil in storage now stands at 431.1 million bbls, at the five-year average
- but look at this: total gasoline inventories surged 9.1 million bbls last week despite the fact that US crude oil refinery inputs were somewhat less than the previous week
- total gasoline supply in stoare is now about 5% above the five-year average -- sort of the wrong time for Iran to go to war if they hoped to disrupt supplies of oil or gasoline -- whatever
- refineries operated at middling range of their capacity, at 93% capacity
- gasoline production actually decreased but inventories surged -- oh, oh -- recession is just around the corner
- distillate fuel production also decreased
- propane: remember the shortage some years ago? Not this year. Propane/propylene inventories are about 17% -- wow, 17% -- above the five-year average
- jet fuel: St Greta is fuming -- jet fuel product supplied was up over 8% over the same four-week period last year
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
|
Week 59
|
January 8, 2020
|
1.2
|
431.1
|
Did you miss the new Outrigger Nat gas plant near Williston? Will have cryogenic capability to produce ethane and propane.
ReplyDeleteI definitely missed that one. Thank you for the alert. Much appreciated.
DeleteSee this post regarding Outrigger:
Deletehttp://themilliondollarway.blogspot.com/2020/01/new-operator-in-bakken-huge-story.html.