US Crude Oil In Storage Decreased By 8.0 Million Bbls -- EIA -- November 4, 2020

Note: I accidentally rejected / deleted a comment from John. Sorry. I re-posted that comment over my name. Nothing lost. I agree with John's comment. 

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Original Post

Weekly EIA petroleum report, link here.

• US crude oil in storage decreased by a whopping 8.0 million bbls from the previous week;
• US crude oil in storage now stands at 484.4 million bbls; about 7% above the already-fat five-year average;
• refiners operating at 75.3 of their operable capacity;
• distillate fuel inventories decreased by 1.6 million bbls; inventories are now about 18% above the five-year average;
• US crude oil imports averaged 5.0 million bopd last week; really not much change in the big scheme of things;
• jet fuel supplied was down 44.6% compared with same four-week period last year

Re-balancing: in the 100 weeks since continuous tracking on the blog began on November 21, 2018, reports on the following dates showed a decrease of 8.0 million bbls or more of crude oil in US storage:

• June 26, 2019: a decrease of 12.8 million bbls (469.6 million bbls in storage)
• January 3, 2020: 11.5 (429.9)
• July 24, 2019: 10.8 (445.1)
• July 29, 2020: 10.6 (526.0)
• August 28, 2019: 10 (427.8)
• March 20, 2019: 9.6 (439.5)
• July 10, 2019: 9.5 (459.0)
• September 2, 2020 (9.4 (498.4)
• February 27, 2019 (8.6 (445.9)
• July 31, 2019: 8.5 (436.5)
• November 4, 2020: 8.0 (484.4)

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%
Week 100	November 4, 2020	-8.0	484.4	7%

Crude oil 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 13	June 10, 2020	6.4	0.000	-13.300%
Week 22	August 12, 2020	5.6	-0.389	-20.400%
Week 23	August 19, 2020	5.7	0.109	-21.700%
Week 24	August 26, 2020	5.9	0.185	-16.900%
Week 25	September 2, 2020	4.9	-1.000	-20.200%
Week 26	September 10, 2020	5.4	0.500	-17.900%
Week 27	September 16, 2020	5.0	-0.416	-20.100%
Week 28	September 23, 2020	5.2	0.160	-24.200%
Week 29	September 30, 2020	5.1	0.045	-21.600%
Week 30	October 7, 2020	5.7	0.600	-18.900%
Week 31	October 15, 2020	5.3	-0.447	-15.400%
Week 32	October 21, 2020	5.1	-0.167	-13.800%
Week 33	October 28, 2020	5.7	-0.131
Week 34	November 4, 2020	5.0	-0.600	-15.400%

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%
Week 11	November 4, 2020	-1.60	18.0%

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%
Week 34	November 4, 2020	-44.60%