DOE CRUDE STATS
| December 22, 2010
December 22, 2010
DOE CRUDE STATS 12/17/10 12/10/10 w.o.w. Bloomberg Median US crude inventories 340.7 346 (5.33) (3.40) Cushing crude inventories 36.4 35.9 0.48 US gasoline inventories 217.2 214.8 2.4 1.50 US distillate inventories 160.7 161.3 (0.6) 0.00 US refinery input 14,926 14,974 (48) US crude imports 8,741 7,690 1051 Please see attached PDF file for detailed stats and charts. There will be no commentary today.
DOE CRUDE STATS
| December 15, 2010
December 15, 2010
DOE CRUDE STATS 12/10/10 12/03/10 w.o.w. Bloomberg Median US crude inventories 346 355.9 (9.85) (2.50) Cushing crude inventories 35.9 34.9 0.98 US gasoline inventories 214.8 214 0.80 2.00 US distillate inventories 161.3 160.2 1.10 0.00 US refinery input 14,974 14,903 71 US crude imports 7,690 9,053 (1363) Please see attached PDF file for detailed stats and charts. There will be no commentary today.
DOE CRUDE STATS
| December 08, 2010
Rapid response
DOE CRUDE STATS Rapid response Refiners demonstrated how readily they can respond to stronger margins. When the Jan NYMEX RBOB crack topped out at $10.92/bbl on Dec 2, it had risen 143% in a month. The crack jumped 57% during that week alone as the heat crack rose just 4%. Refiners took advantage of the opportunity, increasing runs by 789 kb/d to 14.9 mb/d, the highest point since mid-Sep, leading to big principal product inventory builds even though total commercial petroleum stocks.....
DOE CRUDE STATS
| December 01, 2010
Refiner pullback
DOE CRUDE STATS Refiner pullback US apparent demand (product supplied) dropped 340 kb/d with apparent principal product demand down 420 kb/d on the week. Four-week average apparent demand is registering 440 kb/d yoy growth, but the only product classes exhibiting significant growth are distillate (+320 kb/d) and other oils (+650 kb/d). Even distillate marked a weak data point, with apparent demand down 140 kb/d this week to its lowest level since mid-August. Although inventories mostly.....
DOE CRUDE STATS
| November 24, 2010
PADD II imports coming back
DOE CRUDE STATS PADD II imports coming back Total US apparent demand (product supplied) was essentially unchanged on the week at 18.8 mb/d, but apparent gasoline demand fell 120 kb/d to 8.83 mb/d. Four-week average gasoline demand is a shade below 9 mb/d and roughly flat with year-ago levels. Apparent distillate demand was little changed on the week at 3.8 mb/d, but four-week average demand is running 430 kb/d above year-ago levels. Major data points: • Crude oil inventories: Buil.....
DOE CRUDE STATS
| November 17, 2010
Distillate deflates
DOE CRUDE STATS Distillate deflates Apparent distillate demand (product supplied) took a big hit, dropping 610 kb/d on the week to 3.78 mb/d, practically giving up the past four weeks’ gains. The falloff was likely the result of lower exports after shipments abroad inflated apparent demand numbers in the wake of France’s extended disruption last month. Nonetheless, four-week average distillate demand is still running 500 kb/d (+13.9%) above year-ago levels. Apparent gasoline demand fell .....
DOE CRUDE STATS
| November 10, 2010
Distillate strength
DOE CRUDE STATS Distillate strength Apparent distillate demand (product supplied) has surged over the last four weeks, gaining 690 kb/d since early October. Although a good portion of this increase has likely been due to a hidden jump in exports – resulting from tightness in global distillate markets as European refining disruptions, Latin American product demand, and Chinese distillate shortages – the numbers are nonetheless impressive. At 4.39 mb/d, this is the highest weekly reading s.....
DOE CRUDE STATS
| November 03, 2010
Erratic behavior
DOE CRUDE STATS Erratic behavior The erratic gasoline estimates and PADD II stats continued into this week. Although gasoline inventories declined -2.7m bbl, it was more for a reduction in supply rather than strong demand. Apparent gasoline demand (product supplied) surrendered most of last week’s gains, dropping 340 kb/d. At 9.02 mb/d, apparent gasoline demand – both this week and the 4wk average – is flat with year-ago levels. Meanwhile, the mysteries surrounding fluctuating PADD I.....
DOE CRUDE STATS
| October 27, 2010
A wild Wednesday
DOE CRUDE STATS A wild Wednesday Total product supplied (apparent demand) increased 1.08 mb/d to 19.5 mb/d, the highest estimate in a month. Apparent principle product demand increased 750 kb/d (the third-highest weekly increase in the past three years) with gasoline demand up 470 kb/d and distillate demand up 110 kb/d. Yields reached their highest point in two years, pushing gasoline production back to a record level for this time of year even though runs remain quite low. Meanwhile, P.....
DOE CRUDE STATS
| October 20, 2010
Is PADD 2 legit?
DOE CRUDE STATS Is PADD 2 legit? Already benefiting from a weaker dollar and rallying equities today, WTI gained an instant boost from the big -1m bbl decline of Cushing inventories as part of a broader -3.5m bbl draw in PADD II. The region’s draw is a bit curious as PADD II imports increased 60 kb/d while runs fell 13 kb/d, implying that the pull on crude inventories should be ~0.5m bbl less than last week, when storage grew by 1.3m bbl. That means that crude supply had to other.....