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Thursday, October 14, 2021

Weekly EIA Petroleum Report -- October 14, 2021

Is anyone paying attention:

  • total petroleum product supplied two years ago, 2019, save week as this week: 21.1 million bpd
  • this year, total petroleum product supplied this year, this report: 20.7 million bopd
  • and the US economy is not even close to being fully open, and the supply chain shortage is still a huge obstacle
  • how can one not be bullish?

Disclaimer: I am always inappropriately exuberant, always inappropriately bullish. This is not an investment site.

Link here.

  • US crude oil inventories increased by a whopping 6.1 million bbls:
  • US crude oil in storage now stands at 427.0 million bbls;
  • US crude oil imports average 6.0 million bopd; decreased by 1.0 million bopd; over the past four weeks, crude oil imports averaged about 6.5 million bopd (yawn)
  • refiners are operating at 86.7% (yawn)
  • distillate fuel inventories unchanged from previous week; 9% below the five-year average
  • jet fuel product supplied was up 53.5% compared with same four-week period last year;
  • but look at this -- is the economy back or what? total products supplied was up by almost 13% from the same period last year.  
    • total products supplied: 20.7 million bbls
  • so, let's look at the report that was released the same date, two years ago, 2019; link here:
    • total products supplied over the last four-week period averaged 21.1 million bpd, up by 5.4% from the same period, 2018

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Delta Has Clearly Peaked

Except in a few states including Minnesota and Michigan.

2 comments:

  1. what happened to refining? was there a hurricane or some other big story that i missed?

    ReplyDelete
    Replies
    1. Yes, it was the same hurricane that shut down Southwest Airlines for a week. LOL.

      Delete

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