PIRA oil market recap: Week ending 22nd September 2013
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.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24092013/pira_eg_recap_22nd_september688/
You might also like
The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process
In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.