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Wednesday, May 18, 2022

Weekly EIA Petroleum Report -- Pending -- May 18, 2022

WTI: $112.90 just before report released.

Weekly EIA petroleum report, link here:

  • US crude oil in storage decreased by a modest 3.4 million bbls from the previous week despite a release of one million bopd from the SPR.
  • US crude oil in storage now stands at 420.8 million bbls; 14% below the five-year average.
  • US imported 6.6 million bopd, up by 299,000 bopd from the previous week (yawn). 
  • Over the past four weeks, crude oil imports average 6.3 million bpd, 4.7% more than the same period last year.
  • US refineries are operating at 91.8% of their operable capacity, pretty much unchanged.
  • distillate inventories increased by 1.2 million bbls last week; inventories are not 22% below their five-year average.
  • jet fuel supplied was up 28.6% compared to same four-week period last year.
  • gasoline demand: link here.

After the report released, WTI: $112.70.

2 comments:

  1. SPR inventories are at a 12,585 day low...

    ReplyDelete
    Replies
    1. That would be like 88,095 days in dog days -- which it is beginning to feel like.

      Delete

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