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PIRA oil market recap: Week ending 22nd September 2013

Hydrocarbon Engineering,


PIRA Energy Group has reported that US crude stocks declined year on year. On the week, US commercial inventories declined, while Japanese stocks rose

USA

  • Commercial inventories declined for the week ending September 13th led by lower crude inventories and lower gasoline and distillate.
  • US commercial stocks are 12.7 million bbls above last year.
  • Above figure down sharply from last week due to stock draw.
  • The excess continues to be largely in gasoline.
  • Distillates are nearly flat and remain quite low relative to history.

Japan

  • Kerosene stocks started to rebuild as demand eased back.
  • Refinery margins remain poor with gasoline cracks being the biggest drag.
  • Fuel oil cracks are also very weak.

Ethanol

  • US ethanol values plunged for the week ending 13th September as the corn harvest has begun and prices have fallen, lowering the cost to manufacture the fuel.
  • The supply/demand balance has also moved to a surplus.
  • Week ending 13th September, US ethanol production fell to 838 000 bpd.
  • Output is expected to increase soon as the  harvest begins in the Midwest and plants restart. 
Adapted from a press release by Claira Lloyd.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24092013/pira_eg_recap_22nd_september688/


 

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