By Srinivas Chowdary Sunkara // petrobazaar // 28-12-17.
EIA WEEKLY PETROLEUM STATUS REPORT FOR THE WEEK ENDING 22-12-17.
U.S OIL INVENTORIES
Crude oil stocks were reported to be down by 4.6Mb at 431.9 Mb, a dip of 1.05% from last week. Stocks are slid by 11.1% from 486.1 Mb levels in 2016 a year ago. Gulf Coast Inventories are drawn heavily by 5.6Mb followed by Cushing. A Notable increase of 0.6Mb in motor Gasoline stocks which are at 228.4Mb, up 0.5% from previous year's levels. Distillate Fuel oil stocks are increased by 1.1Mb at 129.9Mb, Residual Fuel oil are jumped by 0.6Mb while Propane/Propylene stocks are decreased by 2.7Mb coming altogether the total stocks slipped by 8.8Mb.
U.S OIL IMPORTS
Commercial crude oil imports are spiked by 0.159Mb. East Coast imported a larger volumes of crude followed by Gulf Coast while West Coast crude imports have fallen down. Motor gasoline imports were down by 99K compared to previous week, Distillates imports have fallen down by 141K. Export volumes of both crude and products have come down this week.
U.S REFINING ACTIVITIES
Total crude oil inputs put into processing were stood at 17.398 Mbs, a 0.335 Mbs increase from previous week. A lion share of 9.232 Mbs were utilised in Gulf Coast followed by Midwest with 3.822Mbs utilisation. Refinery Operable capacity was unchanged at 18.503Mbs, an increase of 0.044Mbs from previous year. East Coast utilised 98.4% of refining capacity followed by West Coast with 96.3%.
Crude oil production in U.S is at 9.754Mbpd, a drop of 35Kbpd from previous week. U.S production is expected to reach 10Mbpd in very near term. Finished motor gasoline production was increased by 314Kbpd at 10.399Mbpd.