Gasoline stockpiles finally start to ease, falling another 4.6 million barrels last week

Gasoline stockpiles finally start to ease, falling another 4.6 million barrels last week

Summary of this week's US Petroleum Status Report for the week ending March 8, 2019:
  • Commercial crude oil inventories decreased by 3.9 million barrels, mostly attributed to a major drawdown in the Gulf Coast (down 5.3 million) and West Coast (down 3.1 million).
  • The Cushing storage terminal also saw a drawdown of 672,000 barrels.
  • Total US crude production dipped 100,000 bbl/day to 12 million bbl/day.
  • Crude exports fell 9% to 2.5 million bbl/day, while imports dropped 4% to 6.7 million bbl/day.
  • Imports of Canadian crude declined by 257,000 bbl/day to 3.39 million bbl/day.
  • Overall refinery utilization is holding steady at 87.6%.
  • Gasoline inventories declined by 4.6 million barrels, bringing the total drawdown to over 13 million since the beginning of February.
  • Distillate stockpiles nudged up 383,000 barrels.
  • Overall petroleum consumption rose 320,000 bbl/day to 20.8 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
USGC stockpiles continue to shrink as region moves to export more crude

USGC stockpiles continue to shrink as region moves to export more crude

Crude stockpiles surge in the Midwest and West Coast, reversing drawdowns from the previous week

Crude stockpiles surge in the Midwest and West Coast, reversing drawdowns from the previous week

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