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Wednesday, November 2, 2022

EIA Weekly Petroleum Data -- November 2, 2022

EIA data today, link here:

  • US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week.
  • At 436.8 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.
  • Total motor gasoline inventories decreased by 1.3 million barrels from last week and are about 6% below the five-year average for this time of year.
  • Finished gasoline inventories increased, but blending components inventories decreased last week.
  • Distillate fuel inventories increased by 0.4 million barrels last week and are about 19% below the five-year average for this time of year.
  • Propane/propylene inventories increased by 1.2 million barrels from last week and are 4% above the five year average for this time of year.
  • Total commercial petroleum inventories decreased by 0.7 million barrels last week.

Other data in the EIA report today:

  • US refiners increased operations week-over-week, from below 89% last week, if I recall correctly, to 90.6% this week;
  • gasoline production increased last week (see above) but blending component issues affected overall gasoline inventories
  • distillate fuel production increased last week; a combination of production and demand resulted in an increase of 0.4 million bbls distillate fuel inventories last week but distillate fuel inventories still 19% below their five-year average;
  • over the past four weeks, motor gasoline product supplied averaged 8.6 million bpd, down by 8.2% from the same period last year;
  • jet fuel supplied was flat, up 0.7% compared with the same four-week period last year

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