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Weekly Petroleum Status Report.
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JonSCKs
Posted 5/11/2018 07:43 (#6754617)
Subject: Weekly Petroleum Status Report.


Falling behind I know.. wanted to wait until yesterday's numbers came out for some perspective.. we are 67% in on Corn.. with a nice inch of moisture to activate herbacides.. may get going again later today.

The Weekly Petroleum Status report this week    ( http://ir.eia.gov/wpsr/overview.pdf )

US Crude: Production at 10,703 k bbls/day up 84 k is another ALL TIME RECORD after Last week's ALL TIME RECORD for the US of A!!
 Imports 7,323 k down 1.226 k  (Do we really need to Import this much? or Home Grown Ethanol for America's energy   Independence??)  Even though we are Producing RECORD amounts of US Crude we still IMPORT ALOT.. cause we can I guess..
 Exports  1,877 k down 271 k  (As prices rise at the Pump.. Big Oil Exports US Crude overseas for more $$$.. good idea??) Since the lifting of the US Crude Oil Export ban.. We've become a player.. not a big one but.. "one of them."
Kind of like Russia in the Wheat market. didn't they USED to IMPORT wheat?

Net Imports 5,446 k down 955 k 

Stocks Change down 93 k bbls

Equals Net input to Refineries 16,486 k down 75 k

Other:

Production of Fuel Ethanol 1,040 k up 8k still "gearing up"
Ethanol stocks 22.0 myn bbls down 0.2 k

Total Motor Gasoline Stocks 235.8 myn bbls down (by MORE than the ETHANOL we produced at..) 2.2 myn bbls or 10.72 times that of Ethanol.. yet RBOB Futures are worth $2.1864 vs Ethanol at $1.46 with that spread EXPLODING OUT to $0.73.. arrrggghh!!  The SPREAD CONTINUES to WIDEN vs Last year when they traded at PAR!!

Unbelievable!!

Thanks to Scott Pruitt's EPA handing out RFS Waivers.. WE NEED RELIEF at the EPA!!

Pruitt has GUTTED the RFS!! and now it's starting to put the HURT on the ethanol producers!!

Finished Gasoline 9,975 k up 684 k
Distillate 4,307 k down 179 k  

etc...

More info here.. ( http://ir.eia.gov/wpsr/wpsrsummary.pdf )



Edited by JonSCKs 5/11/2018 07:43
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