US petroleum inventories (crude, SPR, refined products) fell by 6.142mb to 1,528.946mb WoW
via @EIAgov @staunovo
·
Crude Oil -4.450M (est +0.60K; Prev +0.95K)
Cushing: +0.080K (pre+0.v +1.176M)
Domestic prod: 13.862MMbpd
Ref inputs: 17.661MMbpd
Total exports: 11.896MMbpd
Distillate: +0.796K (est -1.500M; Prev -2.228M)
Gasoline: -1.173M (est -1.600M; Prev -2.536M)
Refinery: 98.0% +0.60% (est -0.10%; pre+0.v +0.20%)
– highest weekly number since August 2018 (98.1%)
PADD 1 distillate inventories just fell 8%- in one week- really starting to get concerning, especially with Irving Oil’s refinery going down in 2 weeks for 2 months… just 2.3 million barrels of distillate in New England. a 17% weekly drop in PADD 1C as well.
US crude imports by origin in kbpd incl w/w changes
Canada +485 to 4,011
Mexico +14 to 210
Saudi Arabia +214 to 379
Venezuela -64 to 598
Brazil -211 to 137
Colombia -30 to 111
Iraq +38 to 38
Nigeria +21 to 71
Ecuador +101 to 101
Libya -88 to 1
Implied oil demand (product supplied) fell by 273kbpd w/w to 20.675mbpd last week
w/w in kbpd
gasoline -121
jet fuel -18
distillate -449
residual fuel oil -31
propane/propylene +494
other oils -147