DOE CRUDE STATS
| September 15, 2010
My name is Earl
DOE CRUDE STATS My name is Earl Gasoline inventories may have declined for the fourth straight week, but it hasn’t exactly been due to strong demand. During that time, inventories have fallen just -1.1m bbl and remain at a record high for this time of year. But this week’s draw has far more to do with supply-side; between domestic refinery output and gasoline imports, supply dropped -759 kb/d, with hurricane Earl likely wielding an impact along the East Coast. Lower gasoline imports into.....
DOE CRUDE STATS
| September 09, 2010
Not with a Bang...
DOE CRUDE STATS Not with a bang… The curtain is drawing to on the weak 2010 gasoline season, with apparent mogas demand down -120 kb/d last week to 9.26 mb/d ahead of the Labor Day holiday. Meanwhile, refiners haven’t been able to resist pushing gasoline into the market. Apparent distillate demand held steady at 3.93 mb/d. Principal product demand did increase by 150 kb/d during the week,but primarily due to a 290 kb/d increase in apparent resid and jet/kero demand. Major data points: .....
DOE CRUDE STATS
| September 01, 2010
An Early Distillate Draw
An early distillate draw US principal product apparent demand increased 0.26 mb/d on the week, primarily due to a 0.3 mb/d increase in apparent distillate demand. The erratic readings in apparent distillate demand this summer have been primarily due to fluctuations in exports throughout the season, rising above the EIA’s embedded export number, falling well below, and now likely rebounding. Nonetheless, it is clear that distillate has been the primary source of demand growth over last year’s a.....
DOE CRUDE STATS
| August 25, 2010
Yield To Pressure (including chart package)
Please find attached our analysis of this week’s DOE petroleum statistics. The prior version did not include the PDF file of detailed statistics and charts. We apologize for any inconvenience.
DOE CRUDE STATS
| August 25, 2010
Yield To Pressure
Yield to pressure Not much changed in the EIA’s estimates of this week’s principal product demand (though other oils demand dropped 320 kb/d) as the inventories statistics were bearish virtually across the board. The lone bright spot for market bulls was that Cushing crude inventories declined despite higher PADD II imports. Total gasoline inventories sit at a record high for this time of year and, amazingly, are at the same level as in mid-March while high yields are keeping gasoline produc.....
DOE CRUDE STATS
| August 18, 2010
Too Little Too Late?
Too little too late? Principal product apparent demand increased 340 kb/d on the week, driven by a 270 kb/d increase in distillate demand and a 220 kb/d increase in gasoline. The stats weren’t nearly as bearish as yesterday’s API numbers and this is the third-highest demand reading of the year. But the major products continue to exhibit weakness despite the sizable gains in apparent demand while inventories remain bloated and refiners continue to churn out product. Major data points: • .....
DOE CRUDE STATS
| August 11, 2010
More Bearish Numbers
DOE CRUDE STATS More bearish numbers This week’s apparent demand numbers were quite weak for both gasoline and distillate, but the details continue to paint an especially bearish picture of the gasoline market. Principal product demand fell -310 kb/d on the week primarily due to a -240 kb/d drop in apparent gasoline demand. Even though lower refinery output and lower imports reduced gasoline supply by 2.8m bbl on the week, gasoline inventories still managed to rise contra-seasonally. App.....
DOE CRUDE STATS
| August 04, 2010
Bearish numbers despite headline crude draw
DOE CRUDE STATS August 4, 2010 Bearish numbers despite headline crude draw US crude inventories may have drawn more than expected, but petroleum stocks continue to shift into finished product inventories, continuing a recent run of weak fundamental data. Total commercial petroleum inventories increased 6.1m bbl on the week and returned to an all-time record of 1.125 billion bbl, slightly higher than the previous peak one year ago. Major data points: Crude oil inventories: Drew by .....
DOE CRUDE STATS
| July 28, 2010
Crude build distracts from rampant gasoline output
DOE CRUDE STATS July 28, 2010 Crude build distracts from rampant gasoline output The 7.3m bbl crude build should dominate headlines (11.7m bbl east of the Rockies!) but it was likely an aberration due to the offloading of floating storage in GOM . Imports into PADD III jumped 1.73 mb/d to 7.2 mb/d while the region built a record 8.18m bbl. At 11.15 mb/d, total crude imports hit their third-highest weekly level ever. On the apparent demand front, mogas jumped 0.2 mb/d to a health.....