Summary of Weekly Petroleum Data for the week ending May 6, 2022
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending May 6, 2022 which was 230,000 barrels per day more than the previous week’s average. Refineries operated at 90.0% of their operable capacity last week. < This needs to increase to over 95% to keep up with demand for transportation fuels.
Gasoline production increased last week, averaging 9.7 million barrels per day.
Distillate fuel production increased last week, averaging 4.9 million barrels per day.
U.S. crude oil imports averaged 6.3 million barrels per day last week, down by 62,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 6.2% more than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 695,000 barrels per day, and distillate fuel imports averaged 122,000 barrels per day.
Focus on the inventory deficits to the 5-year average.
> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.5 million barrels from the previous week. At 424.2 million barrels, U.S. crude oil inventories are about 13% below the five year average for this time of year.
> Total motor gasoline inventories decreased by 3.6 million barrels last week and are about 5% below the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week.
> Distillate fuel inventories decreased by 0.9 million barrels last week and are about 23% below the five year average for this time of year. < THIS MUST GET FIXED or there will be diesel fuel rationing soon.
> Propane/propylene inventories increased by 3.4 million barrels last week and are about 8% below the five year average for this time of year.
>> Total commercial petroleum inventories increased by 9.9 million barrels last week.
Total products supplied over the last four-week period averaged 19.4 million barrels a day, up by 1.6% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 1.4% from the same period last year.
Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 5.5% from the same period last year.
Jet fuel product supplied was up 26.9% compared with the same four-week period last year.
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BOTTOMLINE: This nation runs on diesel. We cannot solve our supply chain problems or plant & harvest our food supply without an adequate supply of diesel. Mayor Pete doesn't have a clue how to fix this.
EIA Weekly Petroleum Report - May 11
EIA Weekly Petroleum Report - May 11
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: EIA Weekly Petroleum Report - May 11
Always keep in mind that EIA's weekly petroleum report and their natural gas storage updates are ESTIMATES. Also, from time-to-time their weekly reports contain "Adjustments" to fix prior bad guesses.
The crude oil build was caused by increased oil imports and lower exports of crude.
EIA reported that U.S. crude oil production actually declined, but that may be an "adjustment" since their February guesses for U.S. oil production were much higher than actuals reported in the monthly 941 report.
The 941 report actually show daily U.S. oil production declining in December, January and February.
The crude oil build was caused by increased oil imports and lower exports of crude.
EIA reported that U.S. crude oil production actually declined, but that may be an "adjustment" since their February guesses for U.S. oil production were much higher than actuals reported in the monthly 941 report.
The 941 report actually show daily U.S. oil production declining in December, January and February.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group