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

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

Summary of this week's US Petroleum Status Report for the week ending November 16, 2018:
  • Commercial crude oil inventories rose another 4.9 million barrels last week, the ninth consecutive weekly increase. The largest gains were seen in the Gulf Coast (PADD 3), up 3.4 million barrels. Inventories in Cushing declined 116,000 barrels, the first drawdown in over two months.
  • Refinery utilization in the Midwest region (PADD 2) shot up from 84% to over 91%. The Midwest region is by far the largest buyer of Canadian crude, accounting for about two-thirds of all exports to the US.
  • US crude production was reported unchanged at 11.7 million bbl/day.
  • Crude imports increased 100,000 bbl/day to 7.6 million bbl/day while exports declined 81,000 bbl/day to 2.0 million bbl/day. Imports of Canadian crude rose by 114,000 bbl/day to 3.4 million bbl/day.
  • Gasoline inventories shrunk by 1.3 million barrels while distillate stockpiles were roughly unchanged.
  • After breaking to a new record high last week total product consumption dipped 5% to 21.3 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 build for the tenth week in a row, despite seasonal record in refinery runs

Crude stockpiles build for the tenth week in a row, despite seasonal record in refinery runs

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

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