DOE CRUDE STATS
| November 02, 2011
November 2, 2011
U.S. crude oil inventories rose by +1.83m bbl in the week ending October 28, while Cushing stocks built +560k bbl. Distillate inventories declined by -3.6m bbl and gasoline inventories posted an increase of +1.4m bbl. Crude imports decreased by -419 kb/d.
DOE CRUDE STATS
| October 26, 2011
October 26, 2011
October 26, 2011 Cushing stocks built +419k bbl on the week, pulling the price of front-month WTI lower by approximately $1/bbl in the first 15 minutes of trading after the report. The number countered the expectation of a draw in Cushing that had emerged following Monday’s release of satellite-based data, which had contributed to the switch in the WTI futures curve from contango to backwardation.
DOE CRUDE STATS
| October 19, 2011
October 19, 2011
October 19, 2011 Crude stocks declined by -4.7m bbl on the week, against the Bloomberg median expectation of +2.0m bbl. Cushing stocks gained for the second consecutive week, adding +0.47m bbl. Gasoline and distillate stocks both posted declines of -3.3m bbl and -4.3m bbl, respectively. Refinery runs dropped by -134 kb/d, led by a decline in PADD III .
DOE CRUDE STATS
| October 13, 2011
October 13, 2011
October 13, 2011 Crude stocks increased by +1.34m bbl on the week, above of the Bloomberg median expectation of +0.8m bbl. Cushing stocks ended ten weeks of decline with a build of +0.53m bbl. However, gasoline inventories posted a sharp decline of -4.1m bbl, along with distillates, which decreased by -2.9m bbl. Refinery runs dropped by -563 kb/d, driven by a decline in PADD V.
DOE CRUDE STATS
| October 05, 2011
October 05, 2011
October 5, 2011 Crude stocks drew -4.7m bbl on the week, in sharp contrast to the +1.5m bbl build anticipated by the Bloomberg median estimate and bringing storage to a y-o-y deficit of -24.7m bbl (or 6.8%). The draw was driven by a 1.0 mb/d drop in crude imports into the U.S., the bulk of which occurred in PADD III , which was down 840 kb/d to 4.3 mb/d. U.S. refinery capacity utilization declined slightly to 87% (4wk avg) but remains above the 2009 and 2010 year-ago readings. Cushing stock.....
DOE CRUDE STATS
| September 28, 2011
September 28, 2011
September 28, 2011 Crude imports into the U.S. posted their largest single-week gain since September 2008, jumping a whopping 1.35 mb/d to 9.70 mb/d. The ending of the SPR release and weather-related disruptions appears largely responsible for the rebound in imports. U.S. crude stocks showed only a +1.9m bbl gain, but the stock build arrests the -18m bbl draw of the prior three weeks. Still, the y-o-y disparity between crude stock levels remains more than 16m bbl, as storage is near-even wit.....
DOE CRUDE STATS
| September 21, 2011
September 21, 2011
September 21, 2011 U.S. commercial crude inventories posted a sizeable draw this week, declining -7.34m bbl to 339.0m bbl. The string of crude draws over the last three weeks have sent stocks 18.0m bbl lower to a level not seen since last January. Nearly the entire last three weeks’ draw has occurred in PADD III , where storage has fallen a sharp -17.4m bbl. All planned SPR volumes appear to have been delivered as of the reference week ended September 9. Crude runs increased 283 kb/d w-o-.....
DOE CRUDE STATS
| September 14, 2011
September 14, 2011
September 14, 2011 Crude production in the lower 48 saw its biggest one-week drop since September 2008 during the reference week, plummeting 569 kb/d to 4.51 mb/d on account of Tropical Storm Lee. The last time PADD III production was interrupted to such an extent was Hurricane Ike in 2008, though it ultimately caused a much more severe production loss of 3.79 mb/d. The impact of weather on crude imports into PADD III during the reference week was apparently minor, as imports declined .....
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.....