EIA Weekly Petroleum Report - Oct 27

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dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

EIA Weekly Petroleum Report - Oct 27

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Summary of Weekly Petroleum Data for the week ending October 22, 2021

U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending October 22, 2021 which was 58,000 barrels per day more than the previous week’s average. Refineries operated at 85.1% of their operable capacity last week. < This needs to increase to rebuild refined product inventories that are all below normal for this time of year.
Gasoline production increased last week, averaging 10.1 million barrels per day.
Distillate fuel production increased last week, averaging 4.6 million barrels per day.

U.S. crude oil imports averaged 6.3 million barrels per day last week, up by 430,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 15.2% more than the same four-week period last year. < US energy independence was short lived.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 493,000 barrels per day, and distillate fuel imports averaged 325,000 barrels per day.

> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.3 million barrels from the previous week. At 430.8 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year.
> Total motor gasoline inventories decreased by 2.0 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline inventories remained unchanged while blending components inventories decreased last week.
> Distillate fuel inventories decreased by 0.4 million barrels last week and are about 8% below the five year average for this time of year.
> Propane/propylene inventories increased by 2.0 million barrels last week and are about 15% below the five year average for this time of year. < Propane demand spikes in November each year. Rationing will be necessary in several regions.
>> Total commercial petroleum inventories increased by 4.4 million barrels last week.

Total products supplied over the last four-week period averaged 20.8 million barrels a day, up by 9.9% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 9.4 million barrels a day, up by 9.5% from the same period last year.
Distillate fuel product supplied averaged 4.1 million barrels a day over the past four weeks, up by 3.6% from the same period last year.
Jet fuel product supplied was up 44.9% compared with the same four week period last year.
Dan Steffens
Energy Prospectus Group
dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

Re: EIA Weekly Petroleum Report - Oct 27

Post by dan_s »

AEGIS Alerts - WTI strengthens as EIA reports 3.9-MMBbl draw in Cushing inventories

EIA reported a build of 4268 MBbls in U.S. crude-oil inventories for the week ending 10/22/2021. This was larger than the average estimate of 1526 MBbls as reported by Bloomberg.

Prices were up five minutes following the announcement, to $84.05, from $83.80 just before 9:30am.

Crude Oil Inventories for the US are now at a deficit of 57.295 MBbls to last year and a deficit of 23.10 MBbls to the five-year average.
Dan Steffens
Energy Prospectus Group
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