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Thursday, January 5, 2023

Weekly EIA Production Report -- January 5, 2023

Link here.

  • US crude oil inventories increased by 1.7 million bbls; inventory at 420.6 million bbls now only 4% below the five-year average; while gasoline inventories are soaring and refiners were operating at less than 80% of their capacity
  • US imports (yawn)
  • US refiners operating at 79.6% of their operable capacity; this is a one-off due to Gulf coast refiners shut down during the polar vortex last week
  • distillate inventories decreased by 1.4 million bbls; now 14% below the five-year average; again, this is a one-off
  • finished gasoline inventories increased, while total motor gasoline inventories decreased by a paltry 0.3 million bbls 
  • jet fuel product supplied was up 5.1% 
  • gasoline demand will be posted later today

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