EIA reports a surprise build in crude inventories as imports of Canadian crude hits a record high

EIA reports a surprise build in crude inventories as imports of Canadian crude hits a record high

Summary of this week's US Petroleum Status Report for the week ending Jun 29, 2018:
  • Commercial crude oil inventories increased 1.2 million barrels last week, with the largest gains seen in the Gulf Coast, up almost 3 million barrels. All other PADDs saw drawdowns, including Cushing, when stockpiles fell 2.1 million barrels.
  • Refinery runs declined almost 1% to 17.7 million bbl/day last week. Overall refinery utilization also declined from 97.5% to 97.1%.
  • For the third week in a row, no change was reported to US crude production, which remains stuck at 10.9 million bbl/day.
  • Crude imports rose 700,000 bbl/day to 9.1 million bbl/day while exports declined 22% to 2.3 million bbl/day. Imports of Canadian crude rose over 480,000 bbl/day to 3.73 million bbl/day, a new record high.
  • Gasoline imports and exports dropped 340,000 & 126,000 bbl/day, respectively, while stockpiles declined by 1.5 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
Cushing stockpiles continue to fall, now down over 10 million barrels in 5 weeks

Cushing stockpiles continue to fall, now down over 10 million barrels in 5 weeks

Weekly US Oil Inventory Report

Weekly US Oil Inventory Report

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