API and EIA Details - Feb 25

[dan_s]

API: January US oil demand within 1.2% of year-ago level
US petroleum demand was 19.7 million b/d in January 2021, according to the latest monthly statistical report by API, a 5.6% increase from December and a decrease of 1.2% compared with January 2020.

EIA Weekly Report Details
> U.S. oil production declined by 1.1 million bpd during the week ending February 19. From 10.8 to 9.7 million bpd. Also, compare to Nov 2020 peak of 11,124,000 bpd. I don't expect U.S. oil production to get back to 10.8 million bpd until their is a significant increase in drilling activity, which I don't expect until this summer.
> Days of Supply
Crude Oil +1.5 to 32.8 because so many refineries were offline due to no power
Gasoline +0.6 to 32.9
Distillates -0.3 to 36.2
Jet Fuel +2.3 to 39.5
Propane -0.5 to 26.7 with regional supply problems throughout the Midwest and South