From earlier today:
Link here.
Weekly EIA petroleum report:
- US crude oil in storage: 492.4 million bbls; only one percent above the five-year average for this time of year;
- US crude oil in storage decreased by a non-trivial 5.9 million bbls from the previous week;
- US distillate fuel supplies decreased by 2.1 million bbls last week, but still 4% above the five-year average;
- US refiners operating at 85% their operable capacity;
- imports, FWIW, averaged almost 6 million bpd; down by about a half-million bpd;
- over the past four weeks, crude oil imports averaged 6 million bpd; 0.7% more than same four-week period last week;
So, think about that:
possibly driving into the most uncharted territory ever -- coming out
of a pandemic where people do not want to use mass transportation, and
US driving season about to begin --
- US crude oil in storage only one percent above the five-year average for this time of the year;
- what about gasoline: production is increasing but inventories decreased last week;
- gasoline imports are running about a million bpd day (rounded up from 839,000 bpd)
Now, more. The weekly EIA petroleum report was absolutely incredible. It paints an incredible picture of just how fast "we" are coming out of the pandemic.
Jet fuel delivery: look at the huge change -- this was such an incredible change, I had to check it twice:
|
Jet Fuel Delivered, Change, Four-Week/Four-Week
|
|
|
|
Week
|
Date of Report
|
Change
|
|
Week 41
|
March 3, 2021
|
-24.20%
|
|
Week 42
|
March 10, 2021
|
-29.80%
|
|
Week 43
|
March 17, 2021
|
-36.20%
|
|
Week 44
|
March 24, 2021
|
-35.40%
|
|
Week 45
|
March 31, 2021
|
-30.20%
|
|
Week 46
|
April 7, 2021
|
-11.70%
|
|
Week 47
|
April 14, 2021
|
24.80%
|
Crude oil imports, look at the last column:
|
Crude Oil Imports
|
|
|
|
|
|
Week (week-over-week)
|
Date of Report
|
Raw Data, millions of bbls
|
Change (millions of bbls)
|
Four-week period comparison
|
|
Week 41
|
December 23, 2020
|
5.6
|
0.140
|
-12.900%
|
|
Week 42
|
December 30, 2020
|
5.3
|
-0.238
|
-14.400%
|
|
Week 43
|
January 6, 2021
|
5.4
|
0.043
|
-18.100%
|
|
Week 44
|
January 13, 2021
|
6.2
|
0.900
|
14.900%
|
|
Week 45
|
January 22, 2021
|
6.0
|
-0.194
|
-11.800%
|
|
Week 46
|
January 27, 2021
|
5.1
|
-1.000
|
-13.900%
|
|
Week 47
|
February 3, 2021
|
6.5
|
1.400
|
-9.200%
|
|
Week 48
|
February 10, 2021
|
5.9
|
-0.700
|
-12.000%
|
|
Week 49
|
February 18, 2021
|
5.9
|
0.041
|
|
|
Week 50
|
February 24, 2021
|
4.6
|
-1.300
|
-13.300%
|
|
Week 51
|
March 3, 2021
|
6.3
|
1.700
|
-12.800%
|
|
Week 52
|
March 10, 2021
|
5.7
|
-0.600
|
|
|
Week 53
|
March 17, 2021
|
5.3
|
-0.332
|
13.900%
|
|
Week 54
|
March 24, 2021
|
5.6
|
0.300
|
-9.500%
|
|
Week 55
|
March 31, 2021
|
6.1
|
0.500
|
-9.400%
|
|
Week 56
|
April 7, 2021
|
6.3
|
0.119
|
-5.000%
|
|
Week 57
|
April 14, 2021
|
5.9
|
-0.411
|
0.700%
|
Distillate fuel in storage:
|
Distillate Fuel Inventories
|
|
|
|
|
Week
|
Date of Report
|
Change in Millions
|
Relative to 5-Yr Avg
|
|
Week 20
|
January 6, 2021
|
6.40
|
4.0%
|
|
Week 21
|
January 13, 2021
|
4.80
|
9.0%
|
|
Week 22
|
January 22, 2021
|
0.50
|
8.0%
|
|
Week 23
|
January 27, 2021
|
-0.80
|
8.0%
|
|
Week 24
|
February 3, 2021
|
0.00
|
8.0%
|
|
Week 25
|
February 10, 2021
|
-1.70
|
7.0%
|
|
Week 26
|
February 18, 2021
|
-3.40
|
6.0%
|
|
Week 27
|
February 24, 2021
|
-5.00
|
3.0%
|
|
Week 28
|
March 3, 2021
|
-9.70
|
-17.0%
|
|
Week 29
|
March 10, 2021
|
-5.50
|
-4.0%
|
|
Week 30
|
March 17, 2021
|
0.30
|
-2.0%
|
|
Week 31
|
March 24, 2021
|
3.80
|
1.0%
|
|
Week 32
|
March 31, 2021
|
2.50
|
4.0%
|
|
Week 33
|
April 7, 2021
|
1.50
|
5.0%
|
|
Week 34
|
Apr 14, 2021
|
-2.10
|
4.0%
|