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.....
DOE CRUDE STATS
| June 29, 2011
29 June 2011
In this week’s EIA data, crude stocks drew -4.4m bbl to 359.5m bbl while gasoline production took a hit following a four week rally. The stock draw was more than double the consensus estimate, and WTI prices advanced more than 3% following the release. A slight drop in crude runs (-31 kb/d w-o-w) was overwhelmed by a sharp fall in imports, down by -271 kb/d. Despite a slight w-o-w drop, refinery utilization at 88.1% still remains at its highest level since August 2010. Major data points: .....
DOE CRUDE STATS
| June 22, 2011
22 June 2011
In this week’s EIA data, crude stocks drew -1.7m bbl to 363.8m bbl while gasoline production continued to climb as refiners pushed up crude runs moving into the summer. The 544 kb/d surge in gasoline production (4wk avg) since the start of May stems from an increase in crude throughput across the country, with refineries operating at 89.2% of capacity, the highest level since August 2010. Apparent gasoline demand has spiked in recent weeks, elevating from sub-2009 levels to a robust 9.3 mb/d (.....
DOE CRUDE STATS
| June 15, 2011
June 15, 2011
June 15, 2011 Continued low imports and a 243 kb/d decline in runs contributed to a -3.4m bbl draw in crude stocks this week. A -1.1m bbl draw in Cushing leaves stocks there essentially even with year-ago levels for the first time since March 2010. Historical trends in Cushing stocks would suggest that inventories may draw by an additional 4m – 6m bbl between now and the onset of winter, which would provide additional breathing space relative to effective storage capacity. On a national level,.....
DOE CRUDE STATS
| June 08, 2011
8 June 2011
This week’s stats had to fight for attention amid the drama of Vienna, but a few interesting points came through in the data. Crude imports dropped 918 kb/d to 8.6 mb/d while runs continued to improve, up 261 kb/d to 15.1 mb/d. Crude stocks drew -4.8m bbl. This week’s -1.0m bbl draw in Cushing brings crude stocks in the Midcon pricing hub to 41.9m bbl, the lowest level since February. Though Cushing inventories have fallen only a slight -3.0m bbl over the last two months, they are now within 1.5.....
DOE CRUDE STATS
| June 02, 2011
2 June 2011
Crude and gasoline stocks both gained on the week, with crude building +2.9m bbl to 373.8m bbl and total mogas up +2.6m bbl to 212.3m bbl. The crude build was aided by a 286 kb/d increase in imports. Though total mogas imports fell 208 kb/d, that drop distracts from the fact that 4-week average gasoline imports are still hovering above 1.1 mb/d. While refiners left crude runs relatively unchanged on the week, gasoline yields rose 1.1pp to 62.4%, boosting output 174 kb/d to 9.4 mb/d. Apparent mo.....
DOE CRUDE STATS
| May 25, 2011
A product-ive week for stocks
Product stocks saw considerable movement this week, with gasoline stocks building +3.8m bbl while distillate drew -2.0m bbl. Crude throughput jumped 494 kb/d, a sign of recovery from recent unplanned outages, yet is 776 kb/d under year-ago levels (4-week average). Imports likewise increased, with crude 662 kb/d higher and total mogas up another 585 kb/d. The rapid descent of PADD 1 mogas stocks between February and April has reversed sharply, with inventories building 8.5m bbl over the last 3 .....