Hurricane Sees Largest Gasoline Stocks Drop Since 1980 as Oil Production Up 6.5%

Hurricanes have taken their toll on products as refineries were shut down with Hurricane Harvey this week’s EIA DOE Weekly Petroleum Status Report shows. Oil Production is almost back to Pre Harvey levels.

Cushing Oil StorageDOE Weekly Petroleum Status Report: 9/6/17
Release Time: Wednesday 13 September 2017 – 10:30 ET

 ActualExpectedPrior EIAAPI
Crude+5889k
+4911k+4580k
+6181k
Cushing +1023k+1100k+797k+1320k
Gasoline-8430k
-2100k-3199k -7896k
Distillate-3220k

-1500k

-1398k-1805k

Note in bbls *exp = Reuters poll est except Cushing  

Refinery Utilization  -2.0% to 77.7%

Production + 6.5% to 9.353 mbpd vs 8.781 mbpd prior (Near Pre Harvey Levels)

Summary of Weekly Petroleum Data for the Week (Live Link)

**Due to Hurricane Harvey destroying our office we are just coming back on line. Below are reports from RonH @Ronh999. View his great work and research at https://public.tableau.com/profile/ron.h8870#!/

ABOVE: US consumers bought 8.95 million more gallons of  Gasoline per day YoY via 

Source: EIA, @Ronh999

From the Traders Community News Desk

 

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