Total US crude output retreats from record highs of early-May

Total US crude output retreats from record highs of early-May

Summary of this week's US Petroleum Status Report for the week ending May 10, 2019:
  • Commercial crude oil inventories increased by 5.4 million barrels last week. The Gulf Coast (PADD 3) gained 2.9 million barrels, while stockpiles at the Cushing storage hub, included in PADD 2 figures, saw an increase of 1.8 million barrels.
  • Total US crude production ticked down another 100,000 bbl/day last week, falling to 12.1 million bbl/day.
  • Crude exports rose by over 1 million bbl/day to 3.3 million bbl/day. Imports also rose by almost 1 million bbl/day, ending the week at 7.6 million bbl/day.
  • Imports of Canadian crude held steady at 3.5 million bbl/day.
  • Overall US refinery utilization peaked above 90% last week. Gulf Coast refineries reported operating at 94% of capacity, while Midwest refineries are operating closer to 87%.
  • Gasoline inventories declined another 1.1 million barrels last week. Gasoline consumption dropped 7% to 9.1 million bbl/day.
  • Distillate stockpiles ticked up 84,000 barrels, while consumption rose 5% to 4.1 million bbl/day.
  • Overall consumption of petroleum products dropped almost 5% to 19.5 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 SUBSCRIPTION
Sign-up for our data subscription service and get access to our complete database.

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
US imports of Cdn crude rebound despite refinery outages in the Midwest

US imports of Cdn crude rebound despite refinery outages in the Midwest

Crude stockpiles unexpectedly drop despite lower exports

Crude stockpiles unexpectedly drop despite lower exports