Crude stockpiles continue to build as refineries cut throughput

Crude stockpiles continue to build as refineries cut throughput

Summary of this week's US Petroleum Status Report for the week ending February 8, 2019:
  • Commercial crude oil inventories rose by 3.6 million barrels, with the largest gains made in the Gulf Coast (PADD 3) and West Coast (PADD 5).
  • Stockpiles at the Cushing storage hub declined by 1 million barrels.
  • Total US crude production was reported unchanged at 11.9 million bbl/day.
  • Crude exports dropped 500,000 bbl/day to 2.36 million bbl/day while imports also declined by almost 1 million bbl/day to 6.21 million bbl/day.
  • Imports of Canadian crude shrank by 511,000 bbl/day to 3.19 million bbl/day.
  • Overall refinery utilization dropped from 90.7% to 85.9%, with all five PADDs reporting declines. Utilization in the Midwest (PADD 2) fell to 85%, while Gulf Coast rates (PADD 3) fell below 90%.
  • Gasoline inventories increased 408,000 barrels as consumption dipped 5% to 8.6 million bbl/day.
  • After declining for three weeks in a row, distillate stockpiles rose by 1.2 million barrels last week. Distillate consumption dropped 19% to 3.8 million bbl/day.
  • Overall petroleum consumption contracted by 2.7 million bbl/day to 19.1 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 exports surge to record highs as output hits 12 million bbl/day

Crude exports surge to record highs as output hits 12 million bbl/day

Cushing stockpiles continue to rise as US imports more Canadian crude

Cushing stockpiles continue to rise as US imports more Canadian crude

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