- US crude oil in storage increased by 15.2 million bbls;
- US crude oil in storage now stands at 484.4 million bbls, about 2% above the five-year average, and the five-year average has been "fat" -- in fact, the five-year average has been re-set;
- refineries are operating at only 75.6% capacity -- this is incredible; largest drop I've ever seen, week-over-week; and the lowest operating capacity I've ever seen;
- oil imports averaged less than 6 million bopd (actual: 5.9 million bbls); down by 173,000 bopd
- oil imports decreased 8.4% over the past four weeks compared to similar period one year ago
- total products delivered down over 10% (four-week period)
- jet fuel down an incredible 22% (four-week period)
- WTI after this data released: $24.41 -- it held, remarkable;
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 6
|
January 4, 2019
|
0.0
|
441.4
|
Week 7
|
January 9, 2019
|
-1.7
|
439.7
|
Week 8
|
January 16, 2019
|
-2.7
|
437.1
|
Week 9
|
January 24, 2019
|
8.0
|
445.0
|
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
|
Week 64
|
February 12, 2020
|
7.5
|
442.5
|
Week 65
|
February 20, 2020
|
0.4
|
442.9
|
Week 66
|
February 26, 2020
|
0.5
|
443.3
|
Week 67
|
March 4, 2020
|
0.8
|
444.1
|
Week 68
|
March 11, 2020
|
7.7
|
451.8
|
Week 68
|
March 18, 2020
|
2.0
|
453.7
|
Week 69
|
March 25, 2020
|
1.6
|
455.4
|
Week 70
|
April 1, 2020
|
13.8
|
469.2
|
Week 71
|
April 8, 2020
|
15.2
|
484.4
|
Jet fuel delivered:
Jet Fuel Delivered, Change, Four-Week/Four-Week
|
||
Week
|
Week Ending
|
Change
|
Week 0
|
March 11, 2020
|
-12.80%
|
Week 1
|
March 18, 2020
|
-12.6%
|
Week 2
|
March 25, 2020
|
-8.9%
|
Week 3
|
April 1, 2020
|
-16.4%
|
Week 4
|
April 8, 2020
|
22.0%
|
US crude oil imports:
Crude Oil Imports
|
|||
Week
|
Week Ending
|
Raw Data, millions of bbls
|
Change
|
Week 0
|
March 11, 2029
|
6.4
|
0.174
|
Week 1
|
March 18, 2020
|
6.5
|
0.127
|
Week 2
|
March 25, 2020
|
6.1
|
-0.422
|
Week 3
|
April 1, 2020
|
6.0
|
-0.070
|
Week 4
|
April 8, 2020
|
5.9
|
-0.173
|
*******************************
The Literature Page
I have not found this compare/contrast in the literature / internet yet, but I assume if I tried hard enough, it might be there somewhere. But this is my two cents worth and it provides a great basis for an essay if the granddaughters are ever required to right an essay / thesis about the novel.
Ouch Eliot.
ReplyDeleteFleeting thought: might we be seeing a tectonic shift in the global economy? Is this a huge re-set? If this becomes the new basis, we could see an incredible investing opportunity going forward.
Deletetwo trillion for infrastructure, which stocks would be no brainers?
ReplyDeleteLocal? Regional? MDU, Knife River.
Deletejust getting to this because the EIA's html spreadsheets hadn't been updated until a few hour ago...so, of note, an all time record build of crude, & the 2nd highest build of gasoline stores on record despite gasoline output being at a 35 year low because gasoline demand was at a record low (demand records only go back to '91)... plus the lowest refinery utilization rate since September 2008 (hurricane Ike), & the fewest barrels refined since the week of February 18, 2011..
ReplyDeletealso, crude supplies are now 40.1% higher than the prior 5 year (2010 - 2014) average of crude oil stocks as of the first Friday in April
Thank you. I want to post it to make sure I don't lose it. I will come back to it later. I was just ready to bring Sophia home to her family.
Delete