Weekly Petroleum Report -- EIA -- April 22, 2020

Also: look at most recent posting over at Focus on Fracking. 

Weekly EIA petroleum report, link here.

• US crude oil in storage: increased by another whopping 15.0 million bbls week-over-week;
• total US crude oil in storage: 518.6 million bbls, nearly 10% above the five-year average, and the five-year average keeps getting "fatter";
• refineries operating at 67.6% of their operable capacity;
• even at that, gasoline production increased last week, averaging 6.2 million bpd, off from the "usual" 10 million bpd;
• gasoline supplied is down over 40% over the past four-week period compared to last year
• distillate production increased; holding at 5 million bpd;
• distillate fuel supplied over the past four weeks is down about 10% from same period last year
• US crude oil imports decreased by 700,000 bopd, week-over-week;
• but look at this: over the four-week period, US crude oil imports have averaged about 15% less than the same period last year;
• jet fuel down a whopping 54%; four-week period year/year comparison

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 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 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
Week 72	April 15, 2020	19.2	503.6
Week 72	April 22, 2020	15.0	518.6

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	-12.60%
Week 2	March 25, 2020	-8.90%
Week 3	April 1, 2020	-16.40%
Week 4	April 8, 2020	-0.22%
Week 5	April 15, 2020	-39.70%
Week 6	April 22, 2020	-53.60%

US crude oil imports:

Crude Oil Imports
Week (week-over-week)	Week Ending	Raw Data, millions of bbls	Change (millions of bbls)
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
Week 5	April 15, 2020	5.7	-0.194
Week 6	April 22, 2020	5.6	-0.700