Cushing stockpiles continue to rise as US imports more Canadian crude

Cushing stockpiles continue to rise as US imports more Canadian crude

Summary of this week's US Petroleum Status Report for the week ending February 1, 2019:
  • Commercial crude oil inventories rose by 1.3 million barrels, mostly due to a continued build in stockpiles at the Cushing storage hub in Oklahoma.
  • Total US crude production was unchanged at 11.9 million bbl/day.
  • Crude exports rose 48% to 2.87 million bbl/day. Imports were little changed at 7.1 million bbl/day.
  • Imports of Canadian crude rose 157,000 bbl/day to 3.70 million bbl/day.
  • Overall refinery utilization increased slightly to 90.7%. Increases were seen across all PADDs except the Midwest (PADD 2), which declined from about 95% to 93%
  • Gasoline inventories increased 513,000 barrels as consumption dropped 5% to 9.1 million bbl/day.
  • Distillate stockpiles dipped by 2.3 million barrels, as consumption increased 13% to 4.6 million bbl/day.
  • Overall petroleum consumption increased 5% to 21.8 million bbl/day, while product imports rose 70% to 2.8 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 continue to build as refineries cut throughput

Crude stockpiles continue to build as refineries cut throughput

Crude stockpiles tick higher as refineries dial back production

Crude stockpiles tick higher as refineries dial back production