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

Summary of this week's US Petroleum Status Report for the week ending November 23, 2018:
  • Commercial crude oil inventories rose another 3.6 million barrels, the tenth consecutive weekly increase. The largest gains were seen in the Gulf Coast (PADD 3), up 5.8 million barrels. After posting a rare decline last week, inventories in Cushing gained another 1.2 million barrels.
  • Refinery utilization in the Midwest (PADD 2) shot up from 91% to almost 96%. East Coast refineries improved the most, rising from 77% to 86%.
  • US crude production was reported unchanged at 11.7 million bbl/day.
  • Crude imports increased by 8% to 8.2 million bbl/day, while exports jumped 24% to 2.4 million bbl/day.
  • Imports of Canadian crude also rose 103,000 bbl/day, ending the week at 3.5 million bbl/day.
  • Crude refinery runs increased 4% to 17.6 million bbl/day, a seasonal record for winter months.
  • Gasoline inventories shrunk by 764,000 barrels as exports rose 20% to 1.1 million bbl/day.
  • Distillate stockpiles increased 2.6 million barrels. Consumption declined 16% to 3.6 million bbl/day while exports increased 64% to 1.7 million bbl/day.
  • Exports of petroleum products rose 1.1 million bbl/day to 6.3 million bbl/day, a new record high.
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
Gulf Coast stockpiles sink 9 million barrels as total US crude exports surge to new record highs

Gulf Coast stockpiles sink 9 million barrels as total US crude exports surge to new record highs

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

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