Crude stockpiles pile up in Cushing, despite ramp-up in Midwest refineries

Crude stockpiles pile up in Cushing, despite ramp-up in Midwest refineries

Summary of this week's US Petroleum Status Report for the week ending Jun 7, 2019:
  • Commercial crude oil inventories rose by 2.2 million barrels last week, with most of the gains seen at the Cushing storage terminal in Oklahoma, and on the West Coast.
  • Total US crude output dipped 100,000 bbl/day last week, bringing total output to 12.3 million bbl/day.
  • Crude exports fell 5% to to 3.1 million bbl/day, while imports decreased 4% to 7.6 million bbl/day.
  • Imports of Canadian crude also declined 183,000 bbl/day to 3.68 million bbl/day.
  • Overall US refinery utilization continues to move higher, now reported at just over 93% last week. The Midwest (PADD 2) and West Coast (PADD 3) were the most improved last week.
  • Gasoline inventories jumped 764,000 barrels last week, the fourth consecutive weekly gain. Production rose 2% to 10.3 million bbl/day.
  • Distillate stockpiles dipped by 1 million barrels, as consumption rose almost 30% to 4.4 million bbl/day.
  • Total demand for petroleum products increased almost 9% to 21.1 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
Utilization rates in the Midwest restored to almost full capacity

Utilization rates in the Midwest restored to almost full capacity

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

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