Thursday, February 24, 2022

EIA Weekly Report -- Palindromic Thursday -- 2-24-22

How much oil does the US import from Russia? Using Russia as "1", the following, link here:

  • Canada: 36
  • Mexico: 7 (will drop to zero in 2023)
  • Saudi Arabia: 3
  • Colombia: 3
  • Iraq: 3
  • Brazil: 2.5
  • Russia: 1
  • Ecuador: 1
  • Nigeria: 0.2
  • Trinidad and Tobago: 0

Weekly EIA report, link here:

  • US crude oil in storage increased by a remarkable 4.5 million bbls
  • US crude oil in storage, at 416.0 million bbls, remains 9% below five-year average
  • US crude oil imports averaged the typical 6.8 million bbls per day last week, an increase of 1.0 million bopd from the previous week; over the past four weeks, US crude oil imports average .... drum roll ... 6.5 million bpd (yawn), which is 14% more than the same four-week period one year ago;
  • US refiners are operating at 87.4% of their capacity; this report is for the week ending February 18, 2022; the MPC refinery explosion occurred February 21 - 22, 2022
  • distillate fuel decreased by 0.6 million bbls last week and remain at 18% below the five-year average
  • jet fuel supplied was up 40.4% compared with same four-week period last year
  • gasoline demand: graph pending

This data point will be interesting to follow in next week's report, which will cover the period in which that Marathon refinery blew up. From today's report, the opening line:

US crude oil refinery inputs averaged 15.2 million bpd which was 344,000 bpd more than the previous week's average.

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