Crude stockpiles unexpectedly build by 7M bbls, while gasoline inventories fall for the eighth week in a row

Crude stockpiles unexpectedly build by 7M bbls, while gasoline inventories fall for the eighth week in a row

Summary of this week's US Petroleum Status Report for the week ending April 5, 2019:
  • Commercial crude oil inventories unexpectedly rose by 7 million barrels last week, mostly due to another big increase in the Gulf Coast (up 5.4 million barrels).
  • The Cushing storage terminal saw a drawdown of 1.1 million barrels.
  • Total US crude production was unchanged at 12.2 million bbl/day.
  • Crude exports declined 374,000 bbl/day to 2.3 million bbl/day, while imports dropped 164,000 bbl/day to 6.6 million bbl/day.
  • Imports of Canadian crude rose over 200,000 bbl/day to 3.42 million bbl/day.
  • Refinery utilization rose by a full percentage point to 87.5% last week.
  • Gasoline inventories declined a whopping 7.7 million barrels, the eighth consecutive week of drawdowns. Distillate stockpiles dipped 116,000 barrels.
  • Gasoline consumption rose 7% to 9.8 million bbl/day, while distillate consumption fell 9% to 3.8 million bbl/day.
  • Overall consumption of petroleum products rose almost 2% to 20.3 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 begin to ease as Midwest refineries emerge from spring maintenance season

Crude stockpiles begin to ease as Midwest refineries emerge from spring maintenance season

Output touches a new record high despite falling rig counts

Output touches a new record high despite falling rig counts

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