Oil, product stock levels… This Week in Petroleum

by Jim Colburn • Thursday, May 18, 2017

From This Week in Petroleum we see seasonal draws in crude stocks to levels that are are still above the 5-year range:

But from a days supply measure, and due to extremely high refinery runs, crude supplies are “tight” relative to last year…

The seasonal draw in gasoline stocks seems to have flattened out:

And, days supply of gasoline is still above last year…

Distillate stocks have drawn sharply and are below high of the the 5-year range:

Distilate days supply is still below last year:

Bottom line is we could still see a balancing or tightening of the supply/demand situation even if stock levels could remain at current levels as long as expected demand increases are realized…

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