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

Summary of this week's US Petroleum Status Report for the week ending November 30, 2018:
  • Commercial crude oil inventories declined 7.3 million barrels, the first drop since mid-September. All of the declines came from the Gulf Coast (PADD 3), which lost 9.1 million barrels. Inventories in Cushing rose 1.7 million barrels.
  • US overall refinery utilization was roughly unchanged. East Coast refineries improved from 86% to 93%.
  • US crude production was unchanged at 11.7 million bbl/day.
  • Crude imports decreased by almost 12% to 7.2 million bbl/day, while exports jumped 31% to 3.2 million bbl/day, a new record high.
  • Imports of Canadian crude dipped 1%, ending the week at 3.47 million bbl/day.
  • Gasoline inventories rose 1.7 million barrels while distillate stockpiles increased 3.8 million barrels.
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
Refinery utilization rates in the Midwest jump to 98%

Refinery utilization rates in the Midwest jump to 98%

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