Wednesday, November 8, 2023

Weekly EIA Petroleum Report, Gasoline Demand, EV Sales Distribution, Inflation -- November 8, 2023

Locator: 45996OIL. 

Weekly EIA petroleum report, link here -- NOTE THIS IS the same report as a week earlier -- the EIA has not updated the most recent week -- see below.

  • commercial inventories: increased by 0.8 million bbls; 421.9 million bbls; 5% below average;
  • crude oil imports: 6.4 million bopd; increased by 412,000 bpd; 1.4% above the average;
  • refiners: 85.4%
  • distillate fuel: decreased by 0.8 million bbls; 12% below average;
  • jet fuel supplied: up 8.0% compared to one year ago

So, what's the deal?

  • API reported a whopping 11-million bbl increase yesterday which was beyond the pale
  • today, the EIA says the change, week-over-week, was flat

This may explain it:

  • EIA report: for week ending October 27, 2023, link here.
  • API report: for week ending November 3, 2023, link here.
The EIA said that reports for November 5 - 8, 2023 (or something like that, might be delayed. And it is a fact, the report issued by the EIA today is the same report as last week. So the latest EIA data has not been posted and EIA's most recent report it a wweek older than the API report that came out yesterday.

WTI today: down another 1%; trading at $76.73.

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Inflation Note

Finally, they’re getting it: link here.

At high-end grocery store this morning, while waiting for my RSV vaccination, I checked a few prices.

Eggs, dozen: $1.69. 

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EVs

Sales distribution, US: link here.

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Gasoline Demand

Gasoline demand: link here.

1 comment:

  1. Cleveland Fed President Loretta Mester to retire next June 30th 2024.

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