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.....
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 .....