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Wednesday, December 15, 2021

Weekly EIA Petroleum Report -- December 15, 2021

Updates

Later, 7:22 p.m. CT: implied demand.

Original Post

EIA's weekly petroleum report, link here.

  • US crude oil inventories decreased by a fairly significant amount, down 4.6 million bbls.
  • US crude oil inventories now stand at 428.3 million bbls, still 7% below the five-year average.
  • US crude oil imports were down by 28,000 bopd (yawn); over past four weeks, crude oil imports have averaged about 6.5 million bbl/day, 15.4% more than the same four-week period last year.
  • refiners are operating at 89.8% of their operable capacity; essentially no movement in either direction;
  • distillate fuel inventories decreased by 2.9 million bbls; still 9% below the five-year average;
  • and, the all-important jet fuel supplied: up 27.3% compared with same four-week period last year

The big question: how low could jet fuel "supplied" drop? It looks like we are a headline away from the NFL announcing that certain games will be postponed, or canceled.

 US crude oil in storage: it's been a long time since we've gone below 430 million bbls in storage -- 

2 comments:

  1. we're a couple weeks away from a seven year low on total inventories, but have hit a record for total demand...

    the Browns game was postponed; they're playing "Who's on First" – seems like about half the team is on the Covid list

    ReplyDelete
    Replies
    1. 1. Sorry for the delayed reply: I was out most of the day.

      2. The supply / demand numbers are being reported everywhere. They are amazing.

      3. Three NFL games have now been postponed.

      Delete

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