Crude inventories rise another 10 million barrels as output hits a new record high

Crude inventories rise another 10 million barrels as output hits a new record high

Summary of this week's US Petroleum Status Report for the week ending November 9, 2018:
  • Commercial crude oil inventories rose another 10.3 million barrels last week, the eight consecutive weekly gain, with the biggest increase seen in the Gulf Coast (PADD 3), up over 5 million barrels. Cushing stockpiles also rose another 1.2 million barrels.
  • Refinery utilization in the Midwest region (PADD 2) continues to recover, rising from 77% to almost 84%.
  • Lower 48 output rose another 100,000 bbl/day, bringing total US crude production to a new record high of 11.7 million bbl/day.
  • Crude imports dipped 1% to 7.45 million bbl/day while exports declined 15% to 2.1 million bbl/day. Imports of Canadian crude decreased 6% to 3.3 million bbl/day.
  • Gasoline and distillates inventories declined 1.4 and 3.6 million barrels, respectively.
  • Total product consumption remains strong, rising 10% last week to a record 22.4 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
Midwest refineries return to normal, providing some relief for Canadian producers

Midwest refineries return to normal, providing some relief for Canadian producers

Crude stockpiles continue to build as Lower 48 output surges to new record highs

Crude stockpiles continue to build as Lower 48 output surges to new record highs