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

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

Summary of this week's US Petroleum Status Report for the week ending March 15, 2019:
  • Commercial crude oil inventories decreased by 9.6 million barrels, mostly due to a major drawdown in the Gulf Coast (down 8.6 million barrels).
  • The Cushing storage terminal saw a decline of 468,000 barrels.
  • Total US crude production rose 100,000 bbl/day to 12.1 million bbl/day.
  • Crude exports jumped 33% to 3.4 million bbl/day, while imports increased 3% to 6.9 million bbl/day.
  • Imports of Canadian crude increased by 129,000 bbl/day to 3.52 million bbl/day.
  • Overall refinery utilization continues to slowly creep higher, ending last week at 88.9%.
  • Gasoline inventories declined another 4.6 million barrels, while distillate stockpiles also fell 4.1 million barrels.
  • Overall petroleum consumption rose 684,000 bbl/day to 21.5 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
Product stockpiles continue to shrink, falling another 5 million barrels last week

Product stockpiles continue to shrink, falling another 5 million barrels last week

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

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