Crude stockpiles shrink by 13M barrels, as exports touch new record high

Crude stockpiles shrink by 13M barrels, as exports touch new record high

Summary of this week's US Petroleum Status Report for the week ending Jun 21, 2019:
  • Commercial crude oil inventories decreased by 12.8 million barrels last week. About half of those declines came from the Gulf Coast. Stockpiles in Cushing fell by 1.7 million barrels.
  • Total US crude output dipped another 100,000 bbl/day last week, bringing total output to 12.1 million bbl/day.
  • Crude exports rose 10% to a new record high of 3.8 million bbl/day. Imports fell 11% to 6.7 million bbl/day.
  • Imports of Canadian crude fell 469,000 bbl/day to 3.22 million bbl/day.
  • Overall US refinery utilization continues to improve, rising above 94% last week. Rates in the Gulf Coast moved above 96%.
  • Gasoline inventories declined almost 1 million barrels last week, as exports jumped almost 50% to 940,000 bbl/day. Consumption dipped 5% to 9.5 million bbl/day.
  • Distillate stockpiles also fell 2.4 million barrels. Consumption dropped 2% to just under 4 million bbl/day, while exports increased 11% to 1.7 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 inventories fall by another million barrels, thanks to big drawdowns on the West Coast

Crude inventories fall by another million barrels, thanks to big drawdowns on the West Coast

Utilization rates in the Midwest restored to almost full capacity

Utilization rates in the Midwest restored to almost full capacity

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