Inventories reached 102 million barrels on Oct. 6, up from 85 million barrels a year earlier, according to data from the U.S. Energy Information Administration (“Weekly petroleum status report”, EIA, Oct. 12).
Stocks were 13 million barrels (+15% or +1.18 standard deviations) above the prior seasonal average for 2015-2022 and just 1 million barrels below the all-time high of 103 million set in November 2015.
Inventories ended winter 2022/23 around 10 million barrels (+22% or +0.98 standard deviations) above the seasonal average and the surplus has continued to swell despite strong exports.
U.S. petroleum refineries also produced 59 million barrels of propane between January and July 2023, unchanged from the same period in 2013.
Shipments to the Netherlands (25 million barrels), Singapore (18 million), Indonesia (17 million), Brazil (14 million), Belgium (14 million), Spain (14 million) and Chile (13 million) took the share to more than 80%.
Persons:
Terry Wade, Stocks, John Kemp, Marguerita Choy
Organizations:
Apache Corp, REUTERS, U.S . Energy Information Administration, Thomson, Reuters
Locations:
West Texas, Mont Belvieu, Texas, U.S, Chartbook, East Asia, Latin America, Europe, Japan, Mexico, China, South Korea, Netherlands, Singapore, Indonesia, Brazil, Belgium, Spain, Chile, Asia, Saudi