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

Summary of this week's US Petroleum Status Report for the week ending April 12, 2019:
  • Commercial crude oil inventories declined by 1.4 million barrels last week, with the largest drawdowns seen in the Midwest (PADD 2), down 2.4 million barrels. The Cushing storage terminal, included in PADD 2 figures, saw another decline of 1.5 million barrels.
  • Total US crude production dipped 100,000 bbl/day to 12.1 million bbl/day.
  • Crude exports nudged up 2% to 2.4 million bbl/day, while imports dropped 9% to 6.0 million bbl/day.
  • Imports of Canadian crude also dipped almost 1% to 3.4 million bbl/day.
  • Overall US refinery utilization ticked up from 87.5% to 87.7% last week. The Midwest (PADD 2) saw a large improvement, rising from 86.5% to 92.4%.
  • Gasoline inventories declined 1.2 million barrels, a ninth consecutive week of drawdowns. Distillate stockpiles also fell 362,000 barrels.
  • Gasoline consumption shrank 4% to 9.4 million bbl/day, while distillate consumption fell 11% to 3.4 million bbl/day. Overall consumption of petroleum products declined 2% to 19.9 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 rise over 5 million barrels, returning to the highs of late 2017

Crude stockpiles rise over 5 million barrels, returning to the highs of late 2017

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

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