Crude stockpiles little changed despite strong product demand and higher exports

Crude stockpiles little changed despite strong product demand and higher exports

Summary of this week's US Petroleum Status Report for the week ending May 24, 2019:
  • Commercial crude oil inventories decreased by just 282,000 barrels last week, much less than was expected. The West Coast (PADD 5) saw a drop of over 1 million barrels while the Gulf Coast (PADD 3) decreased almost 800,000 barrels. All other PADDs saw a slight build.
  • Total US crude production recovered 100,000 bbl/day, returning to the old record high of 12.3 million bbl/day.
  • Crude exports rose 14% to 3.3 million bbl/day.
  • Imports of Canadian crude dropped over 500,000 bbl/day to 3.2 million bbl/day, the largest drop since early February.
  • Overall US refinery utilization increased to 91.2% last week, with all PADDs reporting improvements.
  • Gasoline inventories jumped 2.2 million barrels last week, the second consecutive weekly gain. Production and consumption was little changed, although imports topped 1 million bbl/day.
  • Distillate stockpiles declined 1.6 million barrels as consumption rose 13% to 4.3 million bbl/day.
  • Total demand for petroleum products remains strong, rising almost 10% 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 SUBSCRIPTION
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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 continue to build as US output hits another record high

Crude stockpiles continue to build as US output hits another record high

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

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