Wednesday, April 30, 2014

EIA Weekly Petroleum Status: Rising Inventories, Rebounding Demand

EIA reports 4/25/14 inventories rose a total of 7.91 MMBBL, with Crude, Gasoline, and Diesel all increasing by 1.5 to 2 MMBBL each.  Only jet fuel and resid fuel declined this week.  

This kept commercial crude inventories above the historical range for the third week in a row.  Gasoline inventories moved back toward the middle of the range, and diesel held just below the range, about 20 million barrels below the midpoint.  

Cushing inventories fell further below the range, and gulf coast inventories experienced another huge increase, now well above the range.
EIA Weekly Petroleum Inventory

Core inventories this week:

Cushing and Gulf Coast inventories:

Most demand categories recovered this week, with gasoline up 263K BOEPD to the middle of the range, and diesel remaining at the high end..
EIA Weekly Petroleum Demand

Supply was little changed this week, with the trade balance turning slightly more negative as both crude imports and product exports were lower from the previous week.
EIA Weekly Petroleum Supply