EIA - Petroleum Status Report - Apr 1

[dan_s]

Summary of Weekly Petroleum Data for the week ending March 27, 2020

U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending March 27, 2020 which was 0.9 million barrels per day less than the previous week’s average.
Refineries operated at 82.3% of their operable capacity last week.
Gasoline production decreased last week, averaging 7.5 million barrels per day.
Distillate fuel production increased last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged 6.0 million barrels per day last week, down by 70 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 6.9% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 736,000 barrels per day, and distillate fuel imports averaged 127,000 barrels per day.

> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 13.8 million barrels from the previous week. At 469.2 million barrels, U.S. crude oil inventories are near the five year average for this time of year. < Total crude oil storage capacity (not including the SPR) is ~640 million barrels. Today we are just slightly above average for this time of year, but storage will be filling rapidly unless we block imports.
> Total motor gasoline inventories increased by 7.5 million barrels last week and are about 4% above the five year average for this time of year. Finished gasoline and blending components inventories both increased last week. < Gasoline prices should be going lower at the pump.
> Distillate fuel inventories decreased by 2.2 million barrels last week and are about 13% below the five year average for this time of year. < This would be getting a lot more attention if not for "Crazy Coronavirus World".
> Propane/propylene inventories decreased by 0.3 million barrels last week and are about 29% above the 5 year average for this time of year. < Keep your outdoor cooker's propane tank full. IMO it is more important than toilet paper.
> Total commercial petroleum inventories increased last week by 21.0 million barrels last week.

Total products supplied over the last four-week period averaged 20.1 million barrels a day, down by 2.2% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 5.9% from the same period last year.
Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, down by 5.4% from the same period last year.
Jet fuel product supplied was down 16.4% compared with the same four-week period last year. < We aren't going to see a shortage of Jet Fuel this year.