Thursday, January 19, 2023

Some Parting Shots -- January 19, 2023

Global oil demand: hit a nine-month high in November, 2022. Charles Kennedy.

  • we get a lot of bits and pieces but not overall total;
  • there could be many reasons for that "nine-month high."

US gasoline demand: link here.

Wow, wow, wow: US crude oil days of supply is now over 30 days. At 30.1, just barely, but it's over 30 days. 

The last time the US had more than 30 days of oil in storage was the first week in June, 2021 -- that's almost twenty months ago. Why isn't gasoline selling for less than $1.99 / gallon here in north Texas? Oh, that's right. Inflation. 

Wow, wow, wow: US crude oil exports -- this appears to be an all-time record. 

The US exported an average of 4.1 million bbls of oil per day in October, 2022. That’s a 49% increase y/y (2.779 million bopd one year ago) and an 18% increase month-over-month. 


Cost of electricity in selected states,
October, 2022, residential, cents per kwh:

  • New Hampshire: 30.44 (up from 21 cents one year earlier)
  • California: 25.49 (up from 22.02 cents one year earlier)
  • North Dakota: 11.73 (11.63 cents one year earlier)
  • Idaho: 11.24 (10.58)
  • Utah: 10.99 (10.46)

Atmospheric CO2, link here. No updates; volcanic activity on Hawaii interfered with CO2 measurements. Last update: November, 2022. 

"Flu season": shortest, earliest "flu season" in recent history. Link here.


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