EIA Weekly Petroleum Report - Details June 27
Posted: Thu Jun 27, 2019 3:56 pm
On June 26th EIA reported the weekly liquids report for the week ending June 21
Here is the link to the details: https://www.eia.gov/dnav/pet/pet_sum_sn ... _nus_w.htm
Per EIA:
> U.S. crude oil production has DECLINED ~300,000 barrels per day over just the last three weeks. I didn't see this mentioned anywhere. What if all of EIA's and IEA's lofty Wild Ass Guesses for U.S. oil production turn out to be WRONG?????? Take a look at slide 10 of my June 22 podcast to explain why U.S. oil production has rolled over.
> Over the last six weeks, crude oil inputs to U.S. refineries has increase by 759,000 barrels per day and my guess is that it will keep going up because ...
> Inventories of refined productions are nearing critical levels: Gasoline is down to 21.6 days of supply and Jet Fuel is down to 22.2 days of supply. Diesel is now below the 5-year average but they don't break it out by days of supply from other distillates. Our economy relies on a steady supply of gasoline, diesel and jet fuel. Less than 20 days of supply does not leave much room for a problem like a hurricane hitting the Gulf Coast from Corpus Christie to Mississippi. We'd be in big trouble to day if another Harvey shows up.
> Total imports have declined 1,832,000 barrels per day in just four weeks, including a decline in crude oil imports of 1,271,000 barrels per day over that same period. Keep in mind that this is happening at the same time summer demand for transportation fuels is spiking.
The "Devil is in the Details". Now spend 15-20 minutes at the link above.
Here is the link to the details: https://www.eia.gov/dnav/pet/pet_sum_sn ... _nus_w.htm
Per EIA:
> U.S. crude oil production has DECLINED ~300,000 barrels per day over just the last three weeks. I didn't see this mentioned anywhere. What if all of EIA's and IEA's lofty Wild Ass Guesses for U.S. oil production turn out to be WRONG?????? Take a look at slide 10 of my June 22 podcast to explain why U.S. oil production has rolled over.
> Over the last six weeks, crude oil inputs to U.S. refineries has increase by 759,000 barrels per day and my guess is that it will keep going up because ...
> Inventories of refined productions are nearing critical levels: Gasoline is down to 21.6 days of supply and Jet Fuel is down to 22.2 days of supply. Diesel is now below the 5-year average but they don't break it out by days of supply from other distillates. Our economy relies on a steady supply of gasoline, diesel and jet fuel. Less than 20 days of supply does not leave much room for a problem like a hurricane hitting the Gulf Coast from Corpus Christie to Mississippi. We'd be in big trouble to day if another Harvey shows up.
> Total imports have declined 1,832,000 barrels per day in just four weeks, including a decline in crude oil imports of 1,271,000 barrels per day over that same period. Keep in mind that this is happening at the same time summer demand for transportation fuels is spiking.
The "Devil is in the Details". Now spend 15-20 minutes at the link above.