gasoline consumption in November was wellabove the level implied by its weekly data. EIA, which hasadjusted upward its 2023 monthly gasoline data severaltimes, put November implied gasoline consumption at8.845 million b/d, 221,000 b/d above the level derived fromits Weekly Petroleum Status ...
Greater demand will contribute to higher crude oil prices. We expect Brent crude oil will average $106 per barrel (b) this summer, which would be $35/b higher than last summer. Recently, increased volatility of crude oil prices, which account for around 60% of total retail gasoli...
U.S. crude stocks drew more than expected on strong refining demand, while gasolineinventories posted a large draw after an increase in driving lastweek, the Energy Information Administration said on Thursday. Crude inventories fell by 1.5 million barrels in the last week to 452.2 million barrels,...
The forecast indicates that the U.S. will become a net crude exporter in late 2020. U.S. demand for diesel and other distillate fuels is expected to rise 20,000 bbl/d to 4.15 million bbl/d in 2019 and to rise to 4.19 million in 2020, the agency said. U.S. gasoline demand in 20...
"The report was somewhat bearish, with the large crude oil inventory rise offset by another sizeable decline of inventories at the Cushing, Oklahoma delivery hub and a rebound in gasoline demand on the week," said John Kilduff, partner at energy hedge fund Again Capital. "Refining activity is...
Gasoline stocks rose 3.6 million barrels, compared with forecasts for a 1.2 million-barrel gain. “The rise in refined product inventories more than offsets the crude oil inventory drop, and there was a notable, if not spectacular, drop in implied gasoline demand on the week,” said Kilduff...
The EIA stated that the crude oil processing volume of the refinery decreased by 282,000 barrels per day that week. The utilization rate of refinery capacity has decreased by 1.5 percentage points. As of the week ending June 14th, US gasoline inventories decreased by 2.3 million barrels to 2...
The United States is the world's leading exporter of motor gasoline (finished gasoline and gasoline blending components), accounting for more than 16% of total global exports.
Midwest (Chicago and Cleveland).The Midwest covers a large geographic area consisting of many semi-connected markets. Retail gasoline prices in the Midwest were lowest in July, and they peaked in November as a result of higher crude oil prices, tight inventories, and strong demand. Repair work...
Of the motor gasoline demand in 2020, domestic ethanol consumption will contribute about 950,000 b/d, corresponding to a national-level blend rate estimate of 10.2%. Limited demand and ongoing regulatory and infrastructure hurdles for ethanol blends higher than E10 (e.g., ...