US imports of Cdn crude hits a record high in the first week of 2019

US imports of Cdn crude hits a record high in the first week of 2019

Summary of this week's US Petroleum Status Report for the week ending January 4, 2019:
  • Commercial crude oil inventories declined by 1.7 million barrels last week, with the largest drawdowns seen in the Gulf Coast, down 2.9 million barrels.
  • Inventories at the Cushing storage hub rose 330,000 barrels, the sixth consecutive week of gains.
  • Total US crude production remains unchanged at 11.7 million bbl/day.
  • Crude imports rose 6% to 7.8 million bbl/day, while exports declined 8% to 2.1 million bbl/day.
  • Imports of Canadian crude rose 507,000 bbl/day to a new record high of 3.76 million bbl/day.
  • Overall refinery utilization dipped from 97.2% to 96.1%. Gulf Coast refineries slowed from over 99% utilization to 97.7% last week.
  • Gasoline inventories rose for the sixth week in a row, gaining another 8.1 million barrels. Distillate stockpiles also rose 10.6 million barrels as consumption dropped almost 8%.
  • Overall petroleum consumption increased 3.7% to 19.8 million bbl/day.
QUICK LINKS:
  Inventories - crude oil, gasoline & distillate inventories
  Refinery utilization by PADD
  Crude production & rig counts
  Crude balance - production, imports, exports, refinery runs
  US imports of Canadian crude
  Gasoline balance - production, imports, exports, consumption
  Distillate balance - production, imports, exports, consumption
  Total products balance - imports, exports, consumption
DATA DOWNLOAD
WEEKLY PETROLEUM DATA:
• Inventories & trade data
• Production & oil rig counts
• Weekly data from Jan 2005

INVENTORIES
INVENTORIES (thousand barrels)

PADD 1: EAST COAST • PADD 2: MIDWEST • PADD 3: GULF COAST • PADD 4: ROCKY MNTS • PADD 5: WEST COAST

COMMERCIAL CRUDE OIL INVENTORIES

GASOLINE & DISTILLATE INVENTORIES

REFINERY UTILIZATION


CRUDE PRODUCTION & TRADE BALANCE
CRUDE OIL BALANCE (thousand bbl/day)

CRUDE BALANCE VS INVENTORIES

US CRUDE OIL PRODUCTION VS RIG COUNTS

US CRUDE OIL IMPORTS & EXPORTS

US IMPORTS OF CANADIAN CRUDE


PRODUCT BALANCE
GASOLINE BALANCE (thousand bbl/day)

GASOLINE BALANCE VS INVENTORIES

DISTILLATE BALANCE (thousand bbl/day)

DISTILLATE BALANCE VS INVENTORIES

TOTAL PETROLEUM PRODUCTS (thousand bbl/day)

IMPORTS & EXPORTS OF PETROLEUM PRODUCTS

TOTAL PRODUCTS CONSUMED

UPDATED: EVERY WEDNESDAY (THURSDAY DURING HOLIDAY MONDAYS)
NOTES:
CRUDE/DISTILLATE BALANCE = PRODUCTION + IMPORTS − EXPORTS − CONSUMPTION
GASOLINE BALANCE INCLUDES ADJUSTMENT FOR BLENDING COMPONENTS
SOURCES:
THE US ENERGY INFORMATION ADMINISTRATION (EIA)
WEEKLY RIG COUNTS PROVIDED BY BAKER HUGHES
US crude production surges to new record high

US crude production surges to new record high

US refineries run flat-out, sending product stockpiles higher

US refineries run flat-out, sending product stockpiles higher

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