12 members / 352 guests (24 hours)

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 7, 2017

Summary of Weekly Petroleum Data for the Week Ending April 7, 2017


 
U.S. crude oil refinery inputs averaged 16.7 million barrels per day during the week ending April 7, 2017, 268,000 barrels per day more than the previous week’s average. Refineries operated at 91.0% of their operable capacity last week. Gasoline production increased last week, averaging over 9.9 million barrels per day. Distillate fuel production increased last week, averaging about 5.1 million barrels per day.
 
U.S. crude oil imports averaged 7.9 million barrels per day last week, up by 28,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 8.1 million barrels per day, 3.0% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 488,000 barrels per day. Distillate fuel imports averaged 118,000 barrels per day last week.  

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 533.4 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 decreased by 3.0 million barrels last week, but are in the upper half of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 2.2 million barrels last week but are in the upper half of the average range for this time of year. Propane/propylene inventories fell 1.2 million barrels last week and are in the lower half of the average range. Total commercial petroleum inventories decreased by 4.7 million barrels last week. 
 
Total products supplied over the last four-week period averaged 19.7 million barrels per day, remaining unchanged 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 1.0% from the same period last year. Distillate fuel product supplied averaged over 4.2 million barrels per day over the last four weeks, up by 15.6% from the same period last year. Jet fuel product supplied is up 3.6% compared to the same four-week period last year. 


Black Blade: This week's EIA Petroleum Inventory Status Report is MODERATELY BULLISH with inventory declines across the spectrum. Higher refinery utilization rates contributed to the larger draws of crude along with an uptick in demand. Meanwhile, production declines on Venezuela and Nigeria and elsewhere allowed for less of the fungible commodity to enter world markets along with some adherence to OPEC production quotas. We continue to hold and even add more "energy service" issues to the portfolio as rig counts keep creeping higher. We also continue to add physical silver and rental real estate to the portfolio.

As always, get out f 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. After all we do "live in interesting times".