EIA Oil Inventories -4.727M Crude Draw -4.445M Gasoline Draw #TCOIL

The TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variable to watch out for. Crude oil markets are watching for production and product use with the all important import export trade.

Cushing Oil Storage

DOE Weekly Petroleum Status Report Date: 7/12/17
Release Time: Wednesday 19 July 2017 – 10:30 ET

Market Expectations

Crude -4727k -3700k-7564k +1600k
Cushing -23k -174k-1948k +608k
Gasoline -4445k -1000k-1647k -5400k
Distillate -2137k +1300k+3131k -2900k
Refinery Use -050% +.40% +.90% na
Imports +386k  -132k na

+ 0.032 to 9.429 mbpd

+ 0.935 mbpd YOY.

+ 0.059 to 9.397 mbpd

+ 0.912 mbpd YOY 

Note in bbls *exp = Reuters poll est except Cushing  

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

DOE Estimates via @EnergyBasis

Crude Production – Oil Rigs – Crude Futures 

Total US RigCount 

Current US Oil & NatGas RigCount

EIA Prep via @DigStic

Cumulative EIA Stock Change over Past 5 Years @DigStic

TankerTackers.com Estimates

For last week’s oil deliveries from Saudi to USA, we counted 650,772 barrels per day, our all-time low so far. Compare w last week! @TankerTrackers

 Refinery Runs

NB: We added Ron H as one of our favored analysts this week, check out his great work at Ron H Public Tableau Link

Refinery Utlilization

WTI Oil Futures (CL) via‏ @Lee_Saks

Ahead of API WTI crude oil futures settle at $46.59/bbl. +$0.36. +0.78%. _U7

API via Marketwatch 
By Myra P. Saefong @MktwSaefong

Oil falls as sources say API data show unexpected climb in U.S. crude supply

The American Petroleum Institute reported Tuesday an unexpected climb of 1.6 million barrels in U.S. crude supplies for the week ended July 14, according to sources. The API data also showed a drop of 5.4 million barrels in gasoline supplies, while inventories of distillates were down 2.9 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a decline of 3 million barrels in crude inventories. August crude CLQ7, -0.17% was at $46.25 a barrel in electronic trading, down from the contract’s settlement of $46.40 on the New York Mercantile Exchange.



 ** Note with the unreliability of the API numbers highlighted by its constant debacles we offer you the bare bones of that report.


Further Crude Oil Analysis #OOTTNews


From TradersCommunity Research



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