Weekly EIA Petroleum Report -- Gasoline Imports At A 53-Week High -- August 12, 2020

Updates, see comments:

About the only thing I found surprising was that gasoline imports were at a 53-week high, like we don't already have enough gasoline sloshing around.

Oh, and that reported 300,000 bpd decrease in production; i think it should have been an increase...hope they aren't overreacting to the mistake they made in May...

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Original Post

Link here.

• US crude oil in storage: 514.1 million bbls, about 15% above the already fat five-year average;
• US crude oil in storage decreased by a moderate 4.5 million bbls;
• refiners are operating at 81.0% capacity, pretty much unchanged, but up slightly from last report:
• US imported 5.6 million bopd, down by 389,000 bopd from previous week;
• over the past four weeks, crude oil imports averaged about 5.7 million bpd, 20.4% less than the same four-week period last year;
• total products supplied averaged 18.5 million bpd, down by 14.3% from same period last year
• distillate fuel product supplied averaged 3.6 million bpd over the past four weeks; down by 9.3% from the same period last year
• distillate fuel inventories decreased by 2.3 million bbls, but still an astounding 24% above the already fat five-year average for this time of the year;
• jet fuel supplied was down 45.8% compared with same four-week period last year; about the same as previous report;

Crude oil re-balancing:

Week	Date of Report=	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 76	May 20, 2020	-5.0	526.5
Week 77	May 28, 2020	7.9	534.4
Week 78	June 3, 2020	-2.1	532.3
Week 79	June 10, 2020	5.7	538.1
Week 80	June 17, 2020	1.2	539.3
Week 81	June 24, 2020	1.4	540.7
Week 82	July 1, 2020	-7.2	533.5
Week 83	July 8, 2020	5.7	539.2
Week 84	July 15, 2020	-7.5	531.7
Week 85	July 22, 2020	4.9	536.6
Week 86	July 29, 2020	-10.6	526.0
Week 87	August 5, 2020	-7.4	518.6
Week 88	August 12, 2020	-4.5	514.1

Imports:

Crude Oil Imports
Week (week-over-week)	Date of Report	Raw Data, millions of bbls	Change (millions of bbls)	Four-week period comparison
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
Week 7	April 29, 2020	5.3	0.365	-19.700%
Week 8	May 6, 2020	5.7	0.410
Week 9	May 13, 2020	5.4	-0.321	-26.100%
Week 10	May 20, 2020	5.2	-0.194
Week 11	May 28, 2020	7.2	2.000	-16.400%
Week 12	June 3, 2020	6.2	-1.000	-18.300%
Week 13	June 10, 2020	6.4	0.000	-13.300%
Week 14	June 17, 2020	6.6	-0.222	-10.000%
Week 15	June 24, 2020	6.5	-0.102	-11.600%
Week 16	July 1, 2020	6.5	-0.600	-11.300%
Week 17	July 8, 2020	7.4	1.400	-8.500%
Week 18	July 15, 2020	7.5	-1.800	-10.200%
Week 19	July 22, 2020	5.9	0.373	-13.500%
Week 20	July 29, 2020	5.1	-0.800	-13.600%
Week 21	August 5, 2020	6.0	0.900	-18.100%
Week 22	August 12, 2020	5.6	-0.389	-20.400%

Jet fuel:

Jet Fuel Delivered, Change, Four-Week/Four-Week
Week	Date of Report	Change
Week 0	3/7/2020	-12.80%
Week 1	3/14/2020	-12.60%
Week 2	3/21/2020	-8.90%
Week 3	3/28/2020	-16.40%
Week 4	4/4/2020	-0.22%
Week 5	4/11/2020	-39.70%
Week 6	4/18/2020	-53.60%
Week 7	4/24/2020	-61.60%
Week 8	5/1/2020	-66.60%
Week 9	5/8/2020	-68.50%
Week 10	5/15/2020	-67.90%
Week 11	May 22, 2020	-66.60%
Week 12	June 3, 2020	-68.70%
Week 13	June 10, 2020	-63.70%
Week 14	June 17, 2020	-62.30%
Week 15	June 24, 2020	-62.50%
Week 16	July 1, 2020	-60.00%
Week 17	July 8, 2020	-57.20%
Week 18	July 15, 2020	-51.90%
Week 19	July 22, 2020	-47.70%
Week 20	July 29, 2020	-42.10%
Week 21	August 5, 2020	-40.90%
Week 22	August 12, 2020	-45.80%