US imports of Canadian crude sink 10% to just 3.1 million bbl/day

US imports of Canadian crude sink 10% to just 3.1 million bbl/day

Summary of this week's US Petroleum Status Report for the week ending December 14, 2018:
  • Commercial crude oil inventories unexpectedly declined 497,000 barrels last week. Most of the drawdowns were seen in the Gulf Coast (PADD 3) and Rocky Mountains (PADD 4).
  • Inventories in Cushing rose by 1.1 million barrels.
  • Overall refinery utilization ticked higher to 95.4%. Both the Midwest and Gulf Coast refining hubs reported running at almost 98% of capacity.
  • Crude production is holding steady at 11.6 million bbl/day, unchanged from the previous week.
  • Imports of Canadian crude declined 400,000 bbl/day to 3.1 million bbl/day. Total crude imports into the US were unchanged at 7.4 million bbl/day.
  • Total US crude exports rose 2% to 2.325 million bbl/day.
  • Gasoline inventories rose 1.8 million barrels while distillate stockpiles declined 4.2 million barrels.
  • Overall US petroleum consumption rose 4% to 22.3 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
Stockpiles decline in the Gulf Coast as exports surge to new highs

Stockpiles decline in the Gulf Coast as exports surge to new highs

Refinery utilization rates in the Midwest jump to 98%

Refinery utilization rates in the Midwest jump to 98%