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

Summary of this week's US Petroleum Status Report for the week ending February 15, 2019:
  • Commercial crude oil inventories rose by 3.7 million barrels, mostly attributed to a 3.4 million barrel gain in the Cushing storage hub.
  • Total US crude production hit a record 12 million bbl/day last week.
  • Crude exports rose by almost 53% to 3.6 million bbl/day, also a new record high.
  • Imports increased by 1.3 million bbl/day to 7.5 million bbl/day.
  • Imports of Canadian crude increased by almost 100,000 bbl/day to 3.3 million bbl/day.
  • Overall refinery utilization was reported unchanged at 85.9%.
  • Gasoline inventories dropped by 1.5 million barrels, as consumption rose almost 2% to 8.8 million bbl/day.
  • Distillate stockpiles also dropped by 1.5 million barrels, as consumption increased 12% to 4.2 million bbl/day.
  • Overall petroleum consumption rose by 1.6 million bbl/day to 20.7 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 post a big drop while total output touches new record high

Crude stockpiles post a big drop while total output touches new record high

Crude stockpiles continue to build as refineries cut throughput

Crude stockpiles continue to build as refineries cut throughput

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