6 members / 473 guests (24 hours)
$131.90
-$1.00 (-0.75%)
High: $134.92
Low: $131.75
Volume: 1,336,063

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 April 14, 2017

Summary of Weekly Petroleum Data for the Week Ending April 14, 2017


 
U.S. crude oil refinery inputs averaged over 16.9 million barrels per day during the week ending April 14, 2017, 241,000 barrels per day more than the previous week’s average. Refineries operated at 92.9% of their operable capacity last week. Gasoline production decreased last week, averaging 9.8 million barrels per day. Distillate fuel production increased last week, averaging just about 5.2 million barrels per day.
 
U.S. crude oil imports averaged over 7.8 million barrels per day last week, down by 68,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.9 million barrels per day, 2.0% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 843,000 barrels per day. Distillate fuel imports averaged 167,000 barrels per day last week.  

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.0 million barrels from the previous week. At 532.3 million barrels, U.S. crude oil inventories are near the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 1.5 million barrels last week, and are near the upper limit of the average range. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 2.0 million barrels last week but are in the upper half of the average range for this time of year. Propane/propylene inventories fell 0.7 million barrels last week and are in the lower half of the average range. Total commercial petroleum inventories decreased by 1.7 million barrels last week. 
 
Total products supplied over the last four-week period averaged over 19.7 million barrels per day, down by 0.8% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged over 9.3 million barrels per day, down by 0.7% from the same period last year. Distillate fuel product supplied averaged 4.3 million barrels per day over the last four weeks, up by 9.9% from the same period last year. Jet fuel product supplied is up 7.3% compared to the same four-week period last year. 


Black Blade: This week's EIA Petroleum Inventory Status Report is MODERATELY BULLISH as inventories fell even as imports increased. Refinery rates are on the high side and we are not long until the traditional start to summer "driving season" begins in late May with assumed increased demand for transportation fuels. Meanwhile some industrial demand appears to be improving but far from what we would expect to see in a full blown economic recovery. We are more optimistic and have slowly added energy services issues to the portfolio. That said, we continue to add rental real estate and physical silver bullion. We continue to watch and wait on the energy sector and have become more optimistic in recent weeks. As oil and gas prices remain steady and even improve we look closer at the shale players as they are more likely to provide more leverage to higher prices.

As always, get out of debt and stay out of debt, accumulate physical silver and gold bullion as "portfolio insurance", and stockpile long term supplies of nonperishable foods and basic necessities for storage. After all, we do "live in interesting times".