Crude oil, gasoline, distillate stocks… EIA

by Jim Colburn • Thursday, August 3, 2017

From the EIA’s This Week in Petroleum, here are some charts which show declining stock levels in crude oil, gasoline and distillates:

Crude oil is making great strides to reduce overhanging supplies due to record refinery run rates, however, stock levels are still very high… In our August podcast on oil markets Andy thought the market would stay between $45/55…

Again, record refinery runs are helping the days supply number diverge below last year’s number…

Gasoline stocks have been helped by refinery outages in Latin America and good demand in the US… The summer driving season is coming to an end soon and damaged refineries will come back at some point… Will world economic growth be enough to ratchet gasoline demand up? (By the way, do we not hear or read “peak oil demand” stories when the market rallies?)…

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