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

Summary of this week's US Petroleum Status Report for the week ending Jun 28, 2019:
  • Commercial crude oil inventories decreased by 1.1 million barrels last week. Most of those declines came from the West Coast (PADD 5). Stockpiles in Cushing rose by 652,000 barrels, reducing total Midwest drawdowns to 418,000 barrels.
  • US crude output nudged up 100,000 bbl/day, bringing total output to 12.2 million bbl/day.
  • Crude exports declined 21% to 3 million bbl/day while imports rose 14% to 7.6 million bbl/day.
  • Imports of Canadian crude increased 423,000 bbl/day to 3.64 million bbl/day.
  • Overall US refinery utilization was reported unchanged for last week. Rates in the Midwest (PADD 2) moved above 97%, while East Coast (PADD 1) rates fell below 75%.
  • Gasoline inventories declined almost 1.6 million barrels last week, as production fell below 10 million bbl/day.
  • Distillate stockpiles increased by 1.4 million barrels.
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 Canadian crude surges to almost 4 million bbl/day

US imports of Canadian crude surges to almost 4 million bbl/day

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

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

0