Gulf Oil and Gas accountACCOUNT

US Stock Movements - August 2017

Source: OPEC 9/6/2017, Location: North America

Preliminary data for July shows that US total commercial oil stocks fell by 22.4 mb, for the second consecutive months to stand at 1,316.4 mb. At this level, they are 51 mb, or 3.7%, lower than the same period a year ago, but 137 mb, or 11.6%, higher than the latest five-year average. Within the components, crude and products stocks fell by 21 mb and 1.4 mb, respectively.

US commercial crude stocks fell in July for the fourth consecutive month, to stand at 481.9 mb, which is 8.1 mb, or 1.7%, below the same time one year ago, and 94 mb, or 24%, above the latest five-year average. The drop in commercial crude stocks was driven by higher refinery runs, increasing by more than 150 tb/d in July compare to June, reaching 17.3 mb/d. Refineries were running at 94.6%, one percentage point higher than last month. Lower crude imports also contributed to the fall in crude oil stocks. In the week ending 4 August crude inventories fell further by 6.4 mb to 475.4 mb for six consecutive weeks. Crude inventories in Cushing, Oklahoma declined by 3.7 mb in July m-o-m to stand at 55.8 mb.

Total product stocks also fell by 1.4 mb in July to stand at 834.5 mb. At this level, they were 42.9 mb, or 4.9%, down from the level seen at the same time in 2016, but 43.3 mb, or 5.5%, above the seasonal average. Within products, with the exception of propylene, all other products experienced stock draws.

Gasoline stocks fell by 9.6 mb in July for the third consecutive month to stand at 227.7 mb, which is 12.6 mb, or 5.3%, lower than the same period a year ago, but 6.2 mb, or 2.8%, above the latest five-year average. The drop came mainly from higher gasoline consumption averaging nearly 9.8 mb/d in July, more than 220 tb/d above the previous month.

Distillate stocks also fell by 1.0 mb in July to stand at 149.4 mb, indicating a deficit of 6.6 mb, or 4.2%, over the same period a year ago, and 14.2 mb, or 10.5%, above the latest five-year average. The fall in middle distillate stocks mainly came as a result of higher consumption, which increased by about 50 tb/d to stand at 4.2 mb/d.

Residual fuel and jet fuel stocks also fell by 3.0 mb and 0.6 mb, ending July at 33.7 mb and 40.4 mb, respectively. Both products stocks stood below last year at the same time, while jet fuel stocks are 0.3 mb above the five-year average. Residual fuel stocks remained 3.8 mb less than the historical average.

Investment News in United States >>

United Kingdom >>  7/9/2020 - Pale Blue Dot is pleased to announce a corporate restructure that will see Storegga Geotechnologies become the new holding company for the Scottish ba...
India >>  7/7/2020 - bp has announced its intention to invest into the Green Growth Equity Fund (GGEF) in India. The fund, established in 2018, is focused on identifying, ...

Mozambique >>  7/3/2020 - The Japanese government and business sector will join hands on a joint financing deal totaling 1.5 trillion yen ($14.4 billion) for the development of...
Qatar >>  6/29/2020 - Qatar Petroleum announced the commencement of ‘In-Country Value’ evaluation in the energy sector tenders from July through “Tawteen”, the localisation...

Tanzania >>  6/29/2020 - Solo, the AIM investing company targeting attractive production and development opportunities within the European gas market, is pleased to announce t...
Taiwan >>  6/25/2020 - Following the signing of the early works agreement in April 2020, CSBC-DEME Wind Engineering (CDWE) has now taken the Final Investment Decision (FID)...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.