Crude Stockpiles post eighth consecutive week of drawdowns, despite recovery in output

Crude Stockpiles post eighth consecutive week of drawdowns, despite recovery in output

Summary of this week's US Petroleum Status Report for the week ending July 26, 2019:
  • Commercial crude oil inventories dropped by 8.5 million barrels last week. PADDs 3 and 5 (Gulf Coast and East Coast), accounted for most of the declines. Stockpiles in Cushing also fell by 1.5 million barrels.
  • Two weeks after Hurricane Barry, crude production out of the Lower 48 recovered by 1 million bbl/day, bringing total US output back to 12.2 million bbl/day.
  • Crude exports fell 718,000 bbl/day to 2.6 million bbl/day, while imports declined 365,000 bbl/day to 6.6 million bbl/day.
  • Imports of Canadian crude also fell by 262,000 bbl/day to 3.46 million bbl/day.
  • Refinery utilization was little changed at 93% last week.
  • Gasoline inventories dropped by 1.8 million barrels, while distillate stockpiles shrank by 894,000 barrels.
  • Total consumption of petroleum products decreased about 1% to 21.3 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 unexpectedly rise for the first time in 8 weeks

Crude stockpiles unexpectedly rise for the first time in 8 weeks

Gulf of Mexico outages sinks total US output to 8-month low

Gulf of Mexico outages sinks total US output to 8-month low