Net crude imports touches record low as output soars to new high

Net crude imports touches record low as output soars to new high

Summary of this week's US Petroleum Status Report for the week ending October 4, 2019:
  • Commercial crude oil inventories rose by 2.9 million barrels last week, a fourth consecutive week of gains. The largest increase was seen in the Gulf Coast, which rose 5.6 million barrels. The Cushing storage hub saw an increase of 941,000 barrels.
  • Total US crude output rose 200,000 bbl/day, reaching a new record high of 12.6 million bbl/day.
  • Crude exports jumped almost 20% to 3.4 million bbl/day, while imports dipped 1% to 6.2 million bbl/day. The 4-week average of net imports broke a new record low to 3.38 million bbl/day.
  • Imports of Canadian crude rose 100,000 bbl/day, ending the week at an estimated 3.4 million bbl/day.
  • Refinery utilization continues to decline, falling to just under 86% last week. Declines were seen in all PADDs except the West Coast. The Midwest region slipped to 87.4%.
  • Gasoline inventories declined 1.2 million barrels, while distillate stockpiles fell 3.9 million barrels.
  • Total consumption of petroleum products rose 3%, to an estimated 21.4 million bbl/day last week.
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 SUBSCRIPTION
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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 post third week of gains as consumption and exports dip lower

Crude stockpiles post third week of gains as consumption and exports dip lower