EIA: Post-Harvey trend continues for US crude, gasoline stockpiles

Sept. 20, 2017
US crude oil inventories increased while gasoline stockpiles decreased for a third consecutive week following Hurricane Harvey’s impact on Gulf Coast refining hubs and transportation infrastructure.

US crude oil inventories increased while gasoline stockpiles decreased for a third consecutive week following Hurricane Harvey’s impact on Gulf Coast refining hubs and transportation infrastructure (OGJ Online, Sept. 13, 2017).

US commercial crude inventories, excluding those in the Strategic Petroleum Reserve, gained 4.6 million bbl during the week ended Sept. 15 from the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report.

At 472.8 million bbl, US crude inventories are in the upper half of the average range for this time of year.

Total motor gasoline inventories dropped 2.1 million bbl last week but are in the upper half of the average range for this time of year. Distillate fuel inventories fell 5.7 million bbl and are in the lower half of the average range for this time of year.

Separate data from the American Petroleum Institute indicates crude stockpiles rose 1.44 million bbl last week, with gasoline stockpiles falling 5.06 million bbl and distillate stocks dropping 6.13 million bbl.

As of Sept. 19, IHS Markit estimates that 15 of the 20 refineries affected by Harvey are at or near normal operating rates. Four of the other five are in the process of restarting and ramping up runs, it said.

EIA reported that US crude refinery inputs last week averaged 15.2 million b/d, up 1.1 million b/d from the previous week’s average. Refineries operated at 83.2% of their operable capacity.

Gasoline production decreased to 9.8 million b/d, while distillate fuel production increased to 4.5 million b/d.

US crude imports averaged 7.4 million b/d, up 888,000 b/d from the previous week’s average. Over the last 4 weeks, crude imports averaged 7.2 million b/d, down 10.9% from the same 4-week period last year.

Total motor gasoline imports, including both finished gasoline and gasoline blending components, averaged 687,000 b/d. Distillate fuel imports averaged 85,000 b/d last week.

Post-Harvey crude production continued to ramp up last week as US output rose 157,000 b/d to 9.51 million b/d. During the week ended Sept. 8, the overall US increase was 572,000 b/d.