DOE CRUDE STATS
| September 08, 2011
September 08, 2011
September 8, 2011 Perhaps the most vivid illustration of Hurricane Irene’s impact on the U.S. crude oil activity is the 420 kb/d drop in crude refinery runs in PADD I during the reference week, the single largest one-week decline ever recorded in the district. In hindsight, last week’s 589 kb/d jump in crude imports along the East Coast can be interpreted as likely precautionary offloading before Irene struck, so this week’s 769 kb/d drop was largely a drop-back after the prior week’s high. .....
DOE CRUDE STATS
| August 31, 2011
August 31, 2011
August 31, 2011 The release of additional volumes of SPR crude, a drop in crude refinery runs, and a jump in crude imports drove a +5.3m bbl build in U.S. commercial crude stocks on the week. Crude stocks in Cushing drew for the fifth straight week, down -0.58m bbl to 33.1m bbl, the lowest reading since November 2010. Low crude imports in PADD III , which are running at the lowest levels since 1993 (4wk avg), have been a major factor behind the low U.S. import readings. Gulf Coast crude i.....
DOE CRUDE STATS
| August 24, 2011
August 24, 2011
August 24, 2011 Even with the outflow of 4.8m bbl from the SPR , U.S. crude stocks drew -2.2m bbl on the week. Exceptionally low crude oil imports have contributed to recent stock draws, despite the outflow from government inventories. Not surprisingly, crude imports into Gulf of Mexico ports have posted the sharpest slowdown of any region of the country as SPR crude has been released into the PADD III market. PADD III imports have slipped 621 kb/d to 4.75 mb/d over the last 4 weeks.....
DOE CRUDE STATS
| August 17, 2011
August 17, 2011
August 17, 2011 After a string of rather bleak readings this summer, US apparent product demand is beginning to show some signs of life. Total apparent product demand has jumped 688 kb/d to 19.44 mb/d (4wk avg) in the last three weeks, a healthy 3.7% bounce. A resurgence in apparent distillate demand has helped drive the upturn, with 4wk avg demand rising 257 kb/d (or 7.4%) over the last three weeks. A similarly promising story has played out in finished motor gasoline, which has rebounded 98 .....
DOE CRUDE STATS
| August 10, 2011
August 10, 2011
August 10, 2011 Despite the release of a further 2.5m bbl of crude from the SPR , crude stocks drew a sizeable -5.2m bbl this week, with Cushing stocks down -1.4m bbl to 34.6m bbl. Cushing’s strong summertime draw owes much to near record-setting PADD II refining activity, which is pushing through crude at a rate not sustained since the summer of 2000. Meanwhile, although the weekly EIA data suggest that imports into PADD II are running at an all-time high, the picture is more complex t.....
DOE CRUDE STATS
| August 03, 2011
August 03, 2011
August 3, 2011 A +3.0m bbl jump in PADD III crude stocks, buoyed by a 4.5m bbl release from the SPR , drove a +1.0m bbl build in U.S. commercial crude stocks, despite the 260k bbl of production loss caused by Tropical Storm Don. 4wk avg PADD II crude refinery input hit an all-time high of 3.49 mb/d as refiners in the Midcon continue to take advantage of strong cracking margins. In products, 4wk avg apparent finished mogas demand crashed to its lowest level, on a seasonal basis, since .....
DOE CRUDE STATS
| July 27, 2011
July 27, 2011
July 27, 2011 Attached are two PDF files that provide LCMC’s perspective on the DOE EIA’s Weekly Petroleum Status Report. One file provides detailed statistics and charts based on the raw data, while the other provides a brief written analysis. In this week’s DOE EIA data, driving a headline +2.3m bbl build in U.S. commercial crude stocks was a sizeable +5.5m bbl jump in crude inventories in PADD III , thanks in part to the release of 2.3m bbl of crude from the U.S. SPR along th.....
DOE CRUDE STATS
| July 20, 2011
July 20, 2011
July 20, 2011 Crude stocks drew -3.7m bbl to 351.7m bbl with Cushing crude stocks down -1.0m bbl to 36.7m bbl. The week marked the 7th straight draw in commercial crude stocks, which have mirrored the relatively sharp summertime draws of 2009. Both crude imports and runs increased, with imports up 343 kb/d to 9.3 mb/d and runs gaining 403 kb/d to 15.6 mb/d. But while crude imports continue to scrape along the low levels of 2009, crude runs have increased this summer at a pace much quicker tha.....
DOE CRUDE STATS
| July 13, 2011
July 13, 2011
This week’s -3.1m bbl crude draw, which sparked a bullish response in the market, came even as apparent principal product demand continued its relatively weak showing, 1.4% below last year’s levels (4wk avg basis). On the refining front, a 631 kb/d drop in finished motor gasoline output was the major story, driven by a 97 kb/d drop in total crude runs and a 3.7pp dialing back of finished mogas yields. 4wk avg gasoline imports continued their sharp skid, falling from 1.2 mb/d in mid-June to this .....
DOE CRUDE STATS
| July 07, 2011
7 July 2011
Apparent US oil demand showed surprising strength this week while crude stocks posted a mild draw. Apparent principal product demand increased 0.59 mb/d to 15.25 mb/d, with finished mogas and distillate up a combined 0.26 mb/d. Still, 4wk avg total product supplied remains 0.34 mb/d (or 1.8%) lower y-o-y and a full 1.8 mb/d (or 8.8%) under what it was in 2007. US crude stocks drew -0.89m bbl, perhaps underwhelming to the market given an API figure of -3.2m bbl. Cushing continued its seasonal d.....