EIA - Weekly Petroleum Report Nov 28
Posted: Wed Nov 28, 2018 11:18 am
Summary of Weekly Petroleum Data for the week ending November 23, 2018
U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending November 23, 2018, which was 698,000 barrels per day more than the previous week’s average. Refineries operated at 95.6% of their operable capacity last week.
Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, averaging 5.5 million barrels per day.
U.S. crude oil imports averaged 8.2 million barrels per day last week, up by 608,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.7 million barrels per day, 0.8% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 384,000 barrels per day, and distillate fuel imports averaged 186,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.6 million barrels from the previous week.
At 450.5 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year.
> Total motor gasoline inventories decreased by 0.8 million barrels last week and are about 5% above the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week.
> Distillate fuel inventories increased by 2.6 million barrels last week and are about 6% below the five year average for this time of year.
> Propane/propylene inventories decreased by 0.6 million barrels last week and are about 3% below the five year average for this time of year.
>>Total commercial petroleum inventories increased last week by 2.4 million barrels last week.
Total products supplied over the last four-week period averaged 21.1 million barrels per day, up by 5.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.2 million barrels per day, down by 0.9% from the same period last year. Distillate fuel product supplied averaged 4.2 million barrels per day over the past four weeks, up by 2.0% from the same period last year. Jet fuel product supplied was up 4.1% compared with the same four-week period last year.
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Best news is that it appears that refinery maintenance is finally over. Refiners have lots of work to do to meet demand for distillates. On "Days of Supply" crude oil and all refined product inventories are below 30 days of supply. No matter how many times you hear the word "glut", it does not make is so. U.S. inventories are close to where they should be this time of year. All eyes on the December 6th OPEC meeting.
U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending November 23, 2018, which was 698,000 barrels per day more than the previous week’s average. Refineries operated at 95.6% of their operable capacity last week.
Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, averaging 5.5 million barrels per day.
U.S. crude oil imports averaged 8.2 million barrels per day last week, up by 608,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.7 million barrels per day, 0.8% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 384,000 barrels per day, and distillate fuel imports averaged 186,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.6 million barrels from the previous week.
At 450.5 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year.
> Total motor gasoline inventories decreased by 0.8 million barrels last week and are about 5% above the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week.
> Distillate fuel inventories increased by 2.6 million barrels last week and are about 6% below the five year average for this time of year.
> Propane/propylene inventories decreased by 0.6 million barrels last week and are about 3% below the five year average for this time of year.
>>Total commercial petroleum inventories increased last week by 2.4 million barrels last week.
Total products supplied over the last four-week period averaged 21.1 million barrels per day, up by 5.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.2 million barrels per day, down by 0.9% from the same period last year. Distillate fuel product supplied averaged 4.2 million barrels per day over the past four weeks, up by 2.0% from the same period last year. Jet fuel product supplied was up 4.1% compared with the same four-week period last year.
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Best news is that it appears that refinery maintenance is finally over. Refiners have lots of work to do to meet demand for distillates. On "Days of Supply" crude oil and all refined product inventories are below 30 days of supply. No matter how many times you hear the word "glut", it does not make is so. U.S. inventories are close to where they should be this time of year. All eyes on the December 6th OPEC meeting.