Oil Situation

By Todd Sullivan of ValuePlays
Thursday, February 9, 2017 11:33 AM EDT

“Davidson” submits:

US Oil Production rose by 70,000 BBL/DAY

Imports rose to new high of 9.37mil BBL/DAY

Total US Production+ Imports rose to 18.35mil BBL/DAY(historical high)

(Click on image to enlarge)

Refinery Inputs fell sharply to 15.8mil BBL/DAY down sharply from early Jan level 17.1mil BBL/DAY-likely due to seasonal maintenance

Crude Inventories rose by 13.9mil BBL

(Click on image to enlarge)

Screen-Shot-2017-02-09-at-11.17.47-AM.png (927×671)

Wkly Ending Gasoline Stocks remain high

Exports of Refined Petroleum Products rose by 640,000 BBL/DAY in a rising trend

(Click on image to enlarge)

Net/net, this is the seasonal shutdown period with inventories rising in response. Important to note is the persistent rise in Exports of Refined Petroleum Products which supports viewing this as due to demand from a growing global economy. Rising trends are seen throughout multiple economic indicators.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other ...

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Comments

Chee Hin Teh • 7 years ago • Member's comment

Thanks for sharing