EIA numbers are neutral on balance after a quick read.
Refinery runs are up and oil imports are down on last week.
Gasoline inventories have increased, as have distillates and propane/propylene inventories, reflecting continued weak demand.
Lower crude imports of 0.5MM b/d accounts for 3.5MM barrels of that inventory decrease.
S&P
eia.doe.gov
U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the
week ending September 4, 154 thousand barrels per day above the previous week's
average. Refineries operated at 87.2 percent of their operable capacity last
week. Gasoline production increased last week, averaging 9.2 million barrels
per day. Distillate fuel production increased last week, averaging 4.1 million
barrels per day.
U.S. crude oil imports averaged 9.1 million barrels per day last week, down 481
thousand barrels per day from the previous week. Over the last four weeks,
crude oil imports have averaged 9.0 million barrels per day, 1.1 million
barrels per day below the same four-week period last year. Total motor gasoline
imports (including both finished gasoline and gasoline blending components)
last week averaged 985 thousand barrels per day. Distillate fuel imports
averaged 235 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) decreased by 5.9 million barrels from the previous week. At
337.5 million barrels, U.S. crude oil inventories are above the upper boundary
of the average range for this time of year. Total motor gasoline inventories
increased by 2.1 million barrels last week, and are near the upper limit of
the average range. Gasoline inventories remained unchanged while blending
components increased last week. Distillate fuel inventories increased by 2.0
million barrels, and are above the upper boundary of the average range for this
time of year. Propane/propylene inventories increased by 1.6 million barrels
last week and are above the upper limit of the average range. Total commercial
petroleum inventories decreased by 5.1 million barrels last week, and are above
the upper limit of the average range for this time of year.
Total products supplied over the last four-week period has averaged 19.5
million barrels per day, up by 2.0 percent compared to the similar period last
year. Over the last four weeks, motor gasoline demand has averaged about 9.3
million barrels per day, up by 2.2 percent from the same period last year.
Distillate fuel demand has averaged nearly 3.5 million barrels per day over the
last four weeks, down by 5.6 percent from the same period last year. Jet fuel
demand is 9.9 percent lower over the last four weeks compared to the same
four-week period last year. |
