EIA Oil Inventories Report Record Production With Huge Crude Build

Rising crude production and rig counts coupled with growing gasoline supply overhangs oil prices. Support from the wilting US dollar is being burdened by record length in equity and commodity markets.

Rising crude production and rig counts coupled with growing gasoline supply overhangs oil prices. Support from the wilting US dollar being burdened by record length in equity and commodity markets. Oil spec positions continue to build in record length v commercial shorts ahead of this weeks EIA Inventory report.

Cushing Storage Tanks

Crude Oil Tanks at Cushing OK, Basis For the WTI Futures Contract.

DOE Weekly Petroleum Status Report: 1/24/18

  • via TradersCommunity.com
  • Release Time: Wedneday 31 January 2018 – 10:30 ET 
 ActualExpectedPrior EIAAPI
Crude+6776k+100k-1071k+3229k
Cushing-2224k-2600k-3150k-2383k
Gasoline-1980k
+1400k+3098k+2692k
Distillate-1940k

-1500k

+639k-4096k

Note in bbls *exp = Reuters poll est except Cushing  

  • Refinery Utilization  Prior -2.1% to 90.9%
  • Production +.4% w/w to 9.919 mbpd (Near ATH) +11.3% y/y

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

Criterion U.S. Crude Oil Production Forecast ‏@Criterionrsch

EIA Inventory Forecast via @tankertrackers.com

Ahead of the coming report, the United States Department of Energy has published their Strategic Petroleum Reserves (SPR) as holding 664.7 million barrels vs 664.454M last week. Over the span of a week, this is growth of approximately 35,143 barrels a day.

The Fundamental Edge with Brynne Kelly ‏@BrynneKKelly

“This Week” inventory change in prior years:

Chad Stickforth Data @DigStic

 

 

RonH Data ‏@Ronh999

US consumers spent $152.4 million more dollars per day for #gasoline last week compared to same week last year

US consumers bought 27.63 million more gallons of #gasoline per day last week compared to same week last year #OOTT

 

NB: Check out Ron’s great work at Ron H Public Tableau Link

WTI Oil Futures (CL) via‏ @Lee_Saks

Ahead of API Feb WTI crude oil futures settled at U.S. crude at $

API via Marketwatch

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

REGULAR & HOLIDAY RELEASE SCHEDULE

Further Crude Oil Analysis Criterion Research

From TradersCommunity Research

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