Crude stockpiles shrink by almost 3M barrels, reversing gains from the previous week

Crude stockpiles shrink by almost 3M barrels, reversing gains from the previous week

Summary of this week's US Petroleum Status Report for the week ending August 16, 2019:
  • Commercial crude oil inventories dropped by 2.7 million barrels last week. Most of the declines were seen at the Cushing storage hub in Oklahoma (down 2.5 million barrels), and on the West Coast (down 1.3 million barrels).
  • Total US crude output was reported unchanged at 12.3 million bbl/day.
  • Crude exports rose 120,000 bbl/day to 2.8 million bbl/day, while imports dropped 6% to 7.2 million bbl/day.
  • Imports of Canadian crude declined by 218,000 bbl/day, ending the week at an estimated 3.63 million bbl/day.
  • Refinery utilization rose to 95.9% last week, with all PADDs reporting increases except for the East Coast (PADD 1). Refineries in the Midwest and Rocky Mountains region reported running at 100% of capacity.
  • Gasoline inventories ticked up 312,000 barrels, while distillate stockpiles increased by 2.6 million barrels, reversing drawdowns from the previous week.
  • Total consumption of petroleum products declined about 5% to 21 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
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
After stalling for several weeks, U.S. oil output surges to new record high

After stalling for several weeks, U.S. oil output surges to new record high

Crude inventories move higher for the second week in a row

Crude inventories move higher for the second week in a row