Wednesday, October 28, 2020

Weekly EIA Petroleum Report -- Huge Build In US Crude Oil In Storage -- October 28, 2020

Weekly EIA report, link here:

  • US crude oil stored in the US: 492.4 million bbls
  • US crude oil change since previous report: increased by 4.3 million bbls
  • US refineries operating at 74.6% -- essentially no change, but down about a percent
  • distillate fuel production decreased a bit last week
  • US crude oil imports showed almost no change week-over-week
    • average about 13% less than same four-week period last year
  • jet fuel supplied still down almost 44% compared with same period last year

Re-balancing:

Week

Date of Report=

Change

Million Bbls Storage

Over/under 5-year average

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 84

July 15, 2020

-7.5

531.7

17%

Week 85

July 22, 2020

4.9

536.6

19%

Week 86

July 29, 2020

-10.6

526.0

17%

Week 87

August 5, 2020

-7.4

518.6

16%

Week 93

September 16, 2020

-4.4

496.0

14%

Week 94

September 23, 2020

-1.6

494.4

13%

Week 95

September 30, 2020

-2.0

492.4

 

Week 96

October 7, 2020

0.5

492.9

12%

Week 97

October 15, 2020

-3.8

489.1

11%

Week 98

October 21, 2020

-1.0

488.1

10%

Week 99

October 28, 2020

4.3

492.4

9%

Distillate fuel:

Distillate Fuel Inventories




Week

Date of Report

Change in Millions

Relative to 5-Yr Avg

Week 1

August 26, 2020

1.40

24.0%

Week 2

September 2, 2020

-1.70

23.0%

Week 3

September 10, 2020

-1.70

20.0%

Week 4

September 16, 2020

3.50

22.0%

Week 5

September 23, 2020

-3.40

21.0%

Week 6

September 30, 2020

-3.20

21.0%

Week 7

October 7, 2020

-1.00

23.0%

Week 8

October 15, 2020

-7.20

19.0%

Week 9

October 21, 2020

-3.80

19.0%

Week 10

October 28, 2020

-4.50

17.0%

Imports -- crude oil:

Crude Oil Imports




Week (week-over-week)

Date of Report

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 13

June 10, 2020

6.4

0.000

Week 22

August 12, 2020

5.6

-0.389

Week 23

August 19, 2020

5.7

0.109

Week 24

August 26, 2020

5.9

0.185

Week 25

September 2, 2020

4.9

-1.000

Week 26

September 10, 2020

5.4

0.500

Week 27

September 16, 2020

5.0

-0.416

Week 28

September 23, 2020

5.2

0.160

Week 29

September 30, 2020

5.1

0.045

Week 30

October 7, 2020

5.7

0.600

Week 31

October 15, 2020

5.3

-0.447

Week 32

October 21, 2020

5.1

-0.167

Week 33

October 28, 2020

5.7

-0.131

Jet fuel delivered:

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 20

July 29, 2020

-42.10%

Week 21

August 5, 2020

-40.90%

Week 22

August 12, 2020

-45.80%

Week 23

August 19, 2020

-47.60%

Week 24

August 26, 2020

-45.70%

Week 29

September 30, 2020

-46.10%

Week 30

October 7, 2020

-47.50%

Week 31

October 15, 2020

-41.80%

Week 32

October 21, 2020

-45.90%

Week 33

October 28, 2020

-44.30%

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