From a reader:
The 914 is out.
https://www.eia.gov/petroleum/production/
Still hanging above 11 MM bopd, but down a small amount. Typical ND seasonal drop. NM up a bit and nipping on ND's heels. GOM and TX up a bit also.
FEB will be down hard because of freezes, I expect. MAR and APR should be strong though.
Weekly EIA petroleum report: link here.
- US crude oil in storage decreased by 0.9 million bbls from the previous week (again, the EIA data and the API data living in two different universes; I'm not even sure those two universes are parallel)
- US crude oil in storage is 501.8 million bbls; still 6% above the five-year average;
- imports averaged 6.1 million bbls/day; increased by 0.5 million b/d; four-week average -- a whopping 9.4% less than the same four-week period last year; wow!
- refiners are operating at 83.9% operating capacity;
- distillate fuel inventories increased by 2.5 million bbls; 4% above the five-year average:
- jet fuel supplied as down 30.2% compared with same four-week period last year;
Gasoline demand:
The 914 is out.
ReplyDeletehttps://www.eia.gov/petroleum/production/
Still hanging above 11 MM bopd, but down a small amount. Typical ND seasonal drop. NM up a bit and nipping on ND's heels. GOM and TX up a bit also.
FEB will be down hard because of freezes, I expect. MAR and APR should be strong though.
Thank you. Due to severe time constraints this week, I am way behind. I will get to this as soon as possible. Thank you for alerting me; it saved me time. Much appreciated.
Deletethere was an oddity in the (rounded) weekly oil production numbers...
ReplyDeletethis week's crude oil production was reported to be 100,000 barrels per day higher at 11,100,000 barrels per day because the rounded estimate of the output from wells in the lower 48 states was 200,000 barrels per day higher at 10,700,000 barrels per day, while a 10,000 barrel per day decrease to 445,000 barrels per day in Alaska's oil production subtracted 100,000 barrels per day the rounded national total...
that is, of course, the EIA's math, not mine..
At least they're in the "ballpark."
DeleteI'm kinda frustrated with the EIA and API data took. Where is the oil and product considered as a company's inventory. With crude in transit it could it could be owned by an offshore producer or by USA company. Even it a USA company bought it, do they consider it inventory before or after it's delivered.
ReplyDeleteWith product is it considered inventory when it's delivered to a retail fuel outlet or when it's sold at a retail outlet?
Only the accountants know.....
I have no idea. I've never gotten to that degree of detail, or granularity, as they say. From my perspective, as the long as the measurements/definitions stay the same week-to-week, and there is no moving the "goalposts," it doesn't matter. At least not to me.
Delete