Crude stockpiles unexpectedly drop despite lower exports

Crude stockpiles unexpectedly drop despite lower exports

Summary of this week's US Petroleum Status Report for the week ending May 3, 2019:
  • Commercial crude oil inventories unexpectedly declined by almost 4 million barrels last week. The Gulf Coast (PADD 3) dropped 4.8 million barrels, while the Midwest (PADD 2) saw an increase of 1.7 million barrels.
  • Stockpiles at the Cushing storage terminal, included in PADD 2 figures, rose by 821,000 barrels.
  • Total US crude production ticked down 100,000 bbl/day, falling to 12.2 million bbl/day.
  • Crude exports dropped 11% to 2.3 million bbl/day, while imports dropped almost 10% to 6.7 million bbl/day.
  • Imports of Canadian crude also declined 3% to 3.5 million bbl/day.
  • Overall US refinery utilization was little changed for last week.
  • Gasoline inventories declined 596,000 barrels as consumption increased 7% to 9.9 million bbl/day.
  • Distillate stockpiles fell 159,000 barrels, while consumption dropped almost 8% to 3.9 million bbl/day.
  • Overall imports of petroleum products increased 12% to 2.5 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 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
Total US crude output retreats from record highs of early-May

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

Crude stockpiles rise 10M barrels, as output touches new record high and Midwest refineries go down for maintenance

Crude stockpiles rise 10M barrels, as output touches new record high and Midwest refineries go down for maintenance

0