US imports of Canadian crude surges to another record high

US imports of Canadian crude surges to another record high

Summary of this week's US Petroleum Status Report for the week ending January 18, 2019:
  • Commercial crude oil inventories rose by 8 million barrels, with increases seen across most PADDs. The Gulf Coast (PADD 3) added over 3 million barrels, while the East Coast and West Coast regions (PADDs 1 and 5) both gained 2 million barrels.
  • Inventories at the Cushing storage hub dropped 190,000 barrels.
  • Total US crude production was unchanged at 11.9 million bbl/day.
  • Crude imports increased 9% to 8.2 million bbl/day, while exports were cut by one-third, falling to 2 million bbl/day.
  • Imports of Canadian crude rose almost 500,000 bbl/day to an estimated 4.063 million bbl/day, a new record high.
  • Overall refinery utilization fell from 94.6% to 92.9%. Gulf Coast utilization rates further slowed to 92.1% last week, but Midwest refineries are running close to 99% of capacity.
  • Gasoline inventories rose for the eighth week in a row, gaining another 4.1 million barrels. Distillate stockpiles dipped 617,000 barrels, the first decline since mid-December.
  • Overall petroleum consumption increased 2.9% to 21.5 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
Crude stockpiles tick higher as refineries dial back production

Crude stockpiles tick higher as refineries dial back production

US crude production surges to new record high

US crude production surges to new record high

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