US crude production surges to new record high

US crude production surges to new record high

Summary of this week's US Petroleum Status Report for the week ending January 11, 2019:
  • Commercial crude oil inventories declined by 2.7 million barrels, with most of the declines coming from the East Coast (PADD 1), down 2.5 million barrels.
  • Inventories at the Cushing storage hub dropped 743,000 barrels.
  • Total US crude production surged to new record high of 11.9 million bbl/day, as output from the Lower 48 reached a record 11.4 million bbl/day.
  • Crude imports dipped 4% to 7.5 million bbl/day, while exports increased 44% to 3.0 million bbl/day.
  • Imports of Canadian crude declined 180,000 bbl/day to 3.57 million bbl/day.
  • Overall refinery utilization fell from 96.1% to 94.6%. Gulf Coast utliization rates further slowed to 94.2% last week.
  • Gasoline inventories rose for the seventh week in a row, gaining another 7.5 million barrels. Distillate stockpiles also rose 3 million barrels, despite a 51% jump in consumption, rising to 4.4 million bbl/day last week.
  • Overall petroleum consumption increased 5.6% to 20.9 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
US imports of Canadian crude surges to another record high

US imports of Canadian crude surges to another record high

US imports of Cdn crude hits a record high in the first week of 2019

US imports of Cdn crude hits a record high in the first week of 2019

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