Board Type: Semi-PrivateAdmins: Soda

An Interesting IDB update! And how IDB got even faster.  IDB is fast, reliable, and FREE to use. Just join and start posting!

Summary of Weekly Petroleum Data for the Week Ending December 29, 2017

Summary of Weekly Petroleum Data for the Week Ending December 29, 2017 

96d8afc5a4d64d719f77cce6fee9de4c_r.jpg

U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending December 29, 2017, 210,000 barrels per day more than the previous week’s average. Refineries operated at 96.7% of their operable capacity last week. Gasoline production decreased last week, averaging 9.7 million barrels per day. Distillate fuel production increased last week, averaging 5.6 million barrels per day. 

U.S. crude oil imports averaged about 8.0 million barrels per day last week, down by 27,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.8 million barrels per day, 0.1% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 349,000 barrels per day. Distillate fuel imports averaged 129,000 barrels per day last week.  

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.4 million barrels from the previous week. At 424.5 million barrels, U.S. crude oil inventories are in the middle of the average range for this time of year. Total motor gasoline inventories increased by 4.8 million barrels last week, and are above the upper half of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 8.9 million barrels last week and are in the middle of the average range for this time of year. Propane/propylene inventories decreased by 0.7 million barrels last week, but are in the middle of the average range. Total commercial petroleum inventories increased by 1.2 million barrels last week.  

Total products supplied over the last four-week period averaged 20.6 million barrels per day, up by 5.0% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 9.2 million barrels per day, up by 2.1% from the same period last year. Distillate fuel product supplied averaged about 4.1 million barrels per day over the last four weeks, up by 5.8% from the same period last year. Jet fuel product supplied is up 14.7% compared to the same four-week period last year.


Black Blade: This week's EIA Petroleum Inventory Status Report is SLIGHTLY BULLISH as we have a modest draw on crude but a small plus in Total Commercial Petroleum Inventories. This actually a disappointment over all. Refined products increased but the demand just wasn't sufficient to draw down hard enough on inventories. Perhaps next week's data that covers the holiday travel and the recent Arctic Blast may yield better results for energy bulls. Meanwhile, Venezuela has pretty much closed up shop as an oil producer and Nigeria has lost about half their product due to oil pipeline explosions amid unchecked terrorism.

As always, get out of debt and stay out of debt, accumulate physical silver and gold bullion as "portfolio insurance: and stockpile supplies of long term nonperishable foods and basic necessities in storage. After all,we do "live in interesting times".
 
 
The meek shall inherit the Earth, but not the mineral rights!