Weekly EIA Petroleum Report -- November 9, 2022

Link here:

• US crude oil inventories increased by a somewhat, dare we say, modest 3.9 million bbls;
• US crude oil inventories, despite all that hand-wringing about how much has been released, are still only 3% below the five-year average -- 3% -- barely a rounding error;
• refiners are operating at 92.1% of their operating capacity
• distillate fuel inventories -- this is where the real story is this year -- decreased again, by 0.5 million bbls; distillate fuel inventories are 17% below the five-year average -- although expensive nationwide, the crisis is beginning to look more and more "regional" in severity
• but look at this: jet fuel product supplied was down 3.1% compared with same four-week period last year, and that's not due to electric planes.

 *****************************
Gasoline Demand

Link here.