U.S. Petroleum Weekly – October 15, 2010
(For The Week Ending October 8, 2010)
Crude oil stocks fell 0.4 million barrels for the week ending October 8, 2010; Gasoline stocks fell 1.8 million barrels; Distillate stocks were down 0.3 million barrels; Propane/propylene stocks rose 0.3 million barrels; Other oils stocks fell 2.1 million barrels; Total crude oil and petroleum stocks were 4.5 million barrels lower than the week before.
Refinery utilization fell 1.2% to 81.9%.
Implied crude oil demand fell 0.3 million barrels to 13.7 million barrels. Lowest reading for this time of the year in ten years.
Crude oil and petroleum product net imports fell 0.8 million barrels to 8.3 million barrels.
All categories of petroleum stocks are still at extremely elevated levels. Gasoline and distillate stocks at multi-year highs.
Demand collapsing, refiners disciplined in cutting capacity, stockpiles high.
Chart 1. Crude Oil Futures
Chart 2. Crude Oil Futures Curve
Chart 3. Weekly Change in U.S. Crude Oil and Distillates Stocks
Chart 4. Crude Oil, Gasoline and Distillate Fuel Implied Demand
Chart 5. Crude Oil Implied Demand Seasonality
Chart 6. U.S. Total Crude Oil, Gasoline and Distillate Ending Stocks
Chart 7. DOE Motor Gasoline Total Inventory Seasonality
Chart 8. DOE Distillate Fuel Oil Total Inventory Seasonality
Chart 9. U.S. Refinery Capacity, Inputs, and Production
Chart 10. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports
