Updates
Later, 4:15 p.m. CT: a reader posted this comment (see comments below):
Last year the 335,000 barrel Philadelphia Energy Solutions refinery blew up and no restarted. This likely accounts for a big chunk of the downward demand of PADD 1.
https://www.inquirer.com/business/deadly-chemicals-philly-refinery-explosion-fire-new-findings-20191016.html.
See the RBN Energy post regarding this refinery at this post; a search of the blog regarding this refinery tells us how much things have changed due to Covid-19.
Original Post
Gasoline demand, link here:
OPEC basket, link here: $39.09.
*****************************************
Back to the Bakken
Active rigs:
| $38.68 | 11/5/2020 | 11/05/2019 | 11/05/2018 | 11/05/2017 | 11/05/2016 |
|---|---|---|---|---|---|
| Active Rigs | 13 | 55 | 65 | 55 |
No wells coming off the confidential list today.
RBN Energy: shale, oil-sands production gains impacting US refineries' crude slates, part 2.
Ten years ago, East Coast refineries imported virtually all of the crude oil they needed — 60% from OPEC, 21% from Canada, and 19% from other non-OPEC countries. Only five years later, in 2015, the tables had turned. PADD 1 refinery demand for crude remained unchanged at 1.1 MMb/d, but only 14% of the oil refined there came from OPEC, 23% from Canada, and 21% from other non-OPEC countries — the other 42% was either railed in from the Bakken or shipped in from the Eagle Ford and Permian.
But the changes didn’t end there. Imports rebounded sharply in 2016 and 2017, when new pipelines were built out of those basins that pulled barrels away from PADD 1 and into more competitive refining markets. In the fall of 2020, imports are falling back again but for a different reason — with COVID-19 demand destruction and other woes, East Coast refinery demand for oil is down by almost half, with more cuts on the way. Today, we continue a series on U.S. oil imports with a look at the East Coast.
************************************
Chinese Flu Watch
no comments on the election in our country, heck of a time to stay silent
ReplyDeleteYes, I assume there's plenty of folks watching the news. I don't have anything to offer.
DeleteOn Monday evening, I posted a note saying I would not be posting anything regarding politics and would not open any e-mail regarding politics.
Had I not gone to the WSJ Wednesday morning to get the Chinese flu data I would not have seen the election updates.
As you know I am not watching news in general: just NASCAR, old movies, and that's about it.
But, I could not be in a better mood. I don't think folks realize how incredibly good this is going to work out. I think everyone in America is in a win-win situation regardless how this turns out. So, I'm thrilled.
I would love to provide my thoughts, but my thoughts and sixty-nine cents will get you a cup of senior coffee at McDonald's.
Thank you for taking time to write.
Last year the 335,000 barrel Philadelphia Energy Solutions refinery blew up and no restarted. This likely accounts for a big chunk of the downward demand of PADD 1.
ReplyDeletehttps://www.inquirer.com/business/deadly-chemicals-philly-refinery-explosion-fire-new-findings-20191016.html
Speaking of crude oil demand, I suppose, not gasoline demand.
DeleteGreat comment; I moved it to the body of the blog of easier access.