Crude stockpiles continue to rise, gaining another 6.5 million barrels last week

Crude stockpiles continue to rise, gaining another 6.5 million barrels last week

Summary of this week's US Petroleum Status Report for the week ending October 12, 2018:
  • Commercial crude oil inventories rose by almost 6.5 million barrels, the fourth consecutive weekly gain, with increases seen across most PADDs. Cushing stockpiles (included in Midwest figures) rose another 1.8 million barrels last week.
  • Total US refinery utilization was reported unchanged for the week. Utilization in the Midwest continues to decline, falling from 73% to 70%. Gulf Coast refineries operated at 97% of capacity last week.
  • Crude production out of the Lower 48 fell 300,000 bbl/day, likely due to hurricane disruptions out of the Gulf of Mexico. Total US output fell to 10.9 million bbl/day.
  • Crude imports rose 3% to 7.6 million bbl/day while exports dropped 31% to 1.8 million bbl/day. Imports of Canadian crude increased 150,000 bbl/day to 3.4 million bbl/day.
  • Gasoline inventories dropped by 2 million barrels. Production increased 7% to 10.4 million bbl/day while exports rose 13% to 1.2 million bbl/day.
  • Distillate inventories declined by 827,000 barrels. Consumption dropped 18% to 3.8 million bbl/day while production dipped 4% to 4.8 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
Crude stockpiles continue to rise, now up 28 million barrels from lows of mid-September

Crude stockpiles continue to rise, now up 28 million barrels from lows of mid-September

Crude stockpiles surge as production hits another record high and more refineries come offline for maintenance

Crude stockpiles surge as production hits another record high and more refineries come offline for maintenance

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