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Author	Topic: EIA Weekly Petroleum Supply Report -- and what it means	Post a Reply Back to Topics

PD Moderator	Message Posted: Oct 5, 2011 12:01:22 PM Ignore PD Report Abuse The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today. Here are some highlights: CRUDE INVENTORIES: Crude oil inventories decreased by 4.7 million barrels to a total of 336.3 million barrels. At 336.3 million barrels, inventories are 24.7 million barrels below last year (-4.2%) and are above average. GASOLINE INVENTORIES: Gasoline inventories decreased by 1.1 million barrels to 213.7 million barrels. At 213.7 million barrels, inventories are now 6.2 million barrels, or 2.8% lower than last year. Regions posting gains in inventories last week were the Midwest (+0.4mb), and Rocky Mountains (+0.4mb.). Decreases... Visit GasBuddy Blog for full article

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Message Posted: Oct 5, 2011 12:01:22 PM

Ignore PD Report Abuse

The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today.
Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories decreased by 4.7 million barrels to a total of 336.3 million barrels. At 336.3 million barrels, inventories are 24.7 million barrels below last year (-4.2%) and are above average.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.1 million barrels to 213.7 million barrels. At 213.7 million barrels, inventories are now 6.2 million barrels, or 2.8% lower than last year. Regions posting gains in inventories last week were the Midwest (+0.4mb), and Rocky Mountains (+0.4mb.). Decreases...

Visit GasBuddy Blog for full article

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aquarinut Champion Author British Columbia Posts:1,630 Points:445,445 Joined:Jul 2011	Message Posted: Oct 5, 2011 9:20:33 PM Ignore aquarinut Report Abuse Yep.... lower the supply so you can screw the end user. Gas just went up $.16/liter ($.60/Gallon) today here!
swrestler Champion Author Grand Rapids Posts:6,279 Points:1,599,730 Joined:Oct 2008	Message Posted: Oct 5, 2011 8:54:25 PM Ignore swrestler Report Abuse This Doesn't Include What We Have In Freighers Sitting Offshore Waitng To Be Processed.....
Lugi1967 Champion Author Ohio Posts:4,918 Points:1,029,600 Joined:Jun 2010	Message Posted: Oct 5, 2011 5:58:36 PM Ignore Lugi1967 Report Abuse Must be why prices are bumping up .25 cent today
burayton Rookie Author Toronto Posts:1 Points:120 Joined:Nov 2010	Message Posted: Oct 5, 2011 5:41:54 PM Ignore burayton Report Abuse I am not sure of the percentage that is taken by the average U.S. gas station, but this is a chart showing the Canadian split in the price of gas. You would not think Canada might have the world,s largest reserves of crude oil at 2 trillion barrels. (CEO, Shell) With all the natural resources of Canada and a tenth the population of the U.S., Canadians should live tax free!! Petro Canada [L=http://retail.petro-canada.ca/en/fuelsavings/2132.aspx][/L]
Pete12 Champion Author Albany Posts:4,918 Points:1,659,880 Joined:Nov 2005	Message Posted: Oct 5, 2011 3:12:35 PM Ignore Pete12 Report Abuse It will increase next week.
jfcrump Rookie Author Houston Posts:41 Points:543,450 Joined:Sep 2005	Message Posted: Oct 5, 2011 2:39:41 PM Ignore jfcrump Report Abuse Most of the gasoline and diesel being exported does not meet EPA specifications to be sold in the US. Plus, the exported barrels are probably more profitable to make than product sold in the US. Wholesale prices have been coming down. If you aren't seeing that at the pump, complain to your local service station owner/operator. He sets his own prices based on competition across or down the street
DarwinTheDog Champion Author Allentown Posts:4,362 Points:969,295 Joined:Jan 2009	Message Posted: Oct 5, 2011 2:11:05 PM Ignore DarwinTheDog Report Abuse They are just playing with production and imports to keep oil prices high.
tomok Champion Author Portland Posts:33,600 Points:2,373,210 Joined:Aug 2006	Message Posted: Oct 5, 2011 1:52:52 PM Ignore tomok Report Abuse Crude oil inventories decreased, Gasoline inventories decreased, Distillate inventories decreased and Refinery utilization declined 0.1%. West and East coast refineries, with a higher crude oil price, operate with low runs, while refineries with cheaper Canadian oil operate at higher runs. Total oil stocks in the US are down. Refineries generally operated at less than maximum levels to increase demand, fuel prices and profits. Big oil and U.S. refineries continue to export fuel for additional profits. The price of fuel at the pump is ‘still’ too high!
kag2010 Champion Author Winnipeg Posts:5,399 Points:1,048,435 Joined:Apr 2010	Message Posted: Oct 5, 2011 1:35:39 PM Ignore kag2010 Report Abuse Blah,
akitaone Champion Author Tampa Posts:1,342 Points:89,545 Joined:Feb 2011	Message Posted: Oct 5, 2011 1:22:24 PM Ignore akitaone Report Abuse huh?
FPLREP Champion Author Virginia Posts:8,401 Points:2,475,810 Joined:Oct 2005	Message Posted: Oct 5, 2011 12:30:30 PM Ignore FPLREP Report Abuse Jeff4u I think you hit the nail on the head with exports. That is the reason for the decrease not demand from the US.
Jeff4U Champion Author Atlanta Posts:8,895 Points:1,879,930 Joined:Nov 2004	Message Posted: Oct 5, 2011 12:25:06 PM Ignore Jeff4U Report Abuse Crude is now $78.72, an increase of $3.05 Wholesale gasoline is now $2.54 - was $2.51 when crude was $85 per barrel. [Edited by: Jeff4U at 10/5/2011 12:28:14 PM EST]
Jeff4U Champion Author Atlanta Posts:8,895 Points:1,879,930 Joined:Nov 2004	Message Posted: Oct 5, 2011 12:16:30 PM Ignore Jeff4U Report Abuse Compare this to yesterdays API report. API report: Crude -3 million Gas -5 million Distillates -2 million DOE report: Crude -4.7 million Gas -1 million Distillates -.7 million Do you see the big difference in data? WHY are API inaccurate reports allowed? Yesterdays release of the API report caused a $2.39 rise in crude prices. The total amounts EXPORTED are ridiculous and create a negative report. WE PAY higher prices due to crude/gas/distillates exported overseas! Exports WARP the actual demand data, indicating higher demand which is false.
uglytom Champion Author Florida Posts:7,464 Points:1,542,015 Joined:Jul 2007	Message Posted: Oct 5, 2011 12:12:51 PM Ignore uglytom Report Abuse Blah,blah,blah.