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

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

Summary of this week's US Petroleum Status Report for the week ending March 22, 2019:
  • Commercial crude oil inventories unexpectedly rose by 2.8 million barrels last week, mostly due to a big increase in Gulf Coast stockpiles (up 4.6 million barrels).
  • The Cushing storage terminal also saw a build of 541,000 barrels.
  • Total US crude production unchanged at 12.1 million bbl/day.
  • Crude exports declined 15% to 2.9 million bbl/day, while imports dipped 6% to 6.5 million bbl/day.
  • Imports of Canadian crude declined by 71,000 bbl/day to 3.45 million bbl/day.
  • Overall refinery utilization fell from almost 90% to 86.6% last week.
  • Gasoline inventories dropped by 2.9 million barrels, its sixth consecutive week of declines. Distillate stockpiles also fell 2.1 million barrels.
  • Overall product consumption dropped 1.4 million bbl/day to 20.1 million bbl/day, while product exports jumped 24% to 5.2 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
Output touches a new record high despite falling rig counts

Output touches a new record high despite falling rig counts

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

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