- US crude oil in storage increased by 3.4 million bbls.
- US crude oil in storage now stands at 435.0 million bbls, 2% below the five-year average for this time of the year. And OPEC is in panic mode? LOL.
- refineries were operating at 87.4% operable capacity last week; wow, that's the second week in a row with such a low number;
- even with that, gasoline production increased; distillate fuel production decreased but still at 5.0 million b/d -- my "threshold" (5.0 million is the "inflection point" for me; up or down around that number, but 5. 0 million is right on target;
- US imported 6.6 million bopd, on average, last week, down slightly; compared to the same four-week period last year, imports were down 12.3%;
- coronavirus effect/IMO22: distillate fuel, over the past four weeks, is down by 12.4%;
- coronavirus effect: jet fuel supplied down 0.5% compared with 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
|
Week 60
|
January 15, 2020
|
-2.5
|
428.5
|
Week 61
|
January 23, 2020
|
-0.4
|
428.1
|
Week 62
|
January 29, 2020
|
3.5
|
431.7
|
Week 63
|
February 5, 2020
|
3.4
|
435.0
|
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