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Author Topic: EIA: Refiners bump up production, but crude, gasoline inventories fall Back to Topics
PD
Moderator
Message Posted: Jul 2, 2014 10:37:09 AM

The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today. 
Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories decreased by 3.2 million barrels to a total of 384.9million barrels. At 384.9 million barrels, inventories are 1.1 million barrels above last year (0.3%) and are above the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.2 million barrels to 213.7 million barrels. At 213.7 million barrels, inventories are down 9.9 million barrels, or 4.4% lower than one year ago. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.3mb); Midwest (+0.2mb); Gulf Coast (-0.2mb); Rockies (-0.1mb); and West Coast (+0.2mb). It is important to note which regions saw increases/decreases as this information likely drives prices up (in the case of

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REPLIES (newest first) Post a Reply
gasmask78
Champion Author Virginia

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Message Posted: Aug 24, 2014 2:13:16 PM

Z
gasmask78
Champion Author Virginia

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Message Posted: Aug 24, 2014 2:12:46 PM

Ok
Tundralimited2009
Champion Author Dallas

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Message Posted: Jul 26, 2014 1:05:58 AM

Some refineries getting bigger...
Tundralimited2009
Champion Author Dallas

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Message Posted: Jul 25, 2014 1:15:06 AM

Perhaps
gasmask78
Champion Author Virginia

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Message Posted: Jul 23, 2014 12:53:07 AM

Cheaper gas would be great
gasmask78
Champion Author Virginia

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Message Posted: Jul 23, 2014 12:52:23 AM

K
2parrots
Champion Author Massachusetts

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Message Posted: Jul 12, 2014 6:58:18 AM

More refineries needed,but ObaMe says "They can`t build them "
Tundralimited2009
Champion Author Dallas

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Message Posted: Jul 12, 2014 5:57:53 AM

Wow hopefully soon
nervous
Veteran Author Ventura

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Message Posted: Jul 9, 2014 12:18:15 PM

West Coast @80.9% (lowest) output in the last several weeks. We had 20 refiners just a few years ago and now were @18 with only 16 or 17 producing gasoline currently. We should be more like Around 90%. Wait until the unelected C.A.R.B. bureaucrat's and the California's Democrat party's cap and trade (carbon credits) really takes an effect on refining beginning Jan. 2015. You can expect much more higher gasoline prices are coming because it would take decades to get a refiner built in decades because of the rules and regulation California has. It's only to get a hole lot more painful in the future for EVERY THING!
Raider44
Champion Author Allentown

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Message Posted: Jul 8, 2014 12:29:49 AM

we need more refinery capacity.
Tundralimited2009
Champion Author Dallas

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Message Posted: Jul 7, 2014 7:02:41 AM

Thank You...
honda0105
Champion Author Tallahassee

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Message Posted: Jul 6, 2014 8:28:58 AM

the usual statistical lies...
honda0105
Champion Author Tallahassee

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Message Posted: Jul 5, 2014 7:56:42 AM

Happy Birthday USA!!!!
fedupp
Champion Author Cleveland

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Message Posted: Jul 3, 2014 9:11:09 AM

If cheap fuel is the end goal,a source of cheap oil is where it starts-like before 2003.--North America has no source of cheap oil,has not had for 50 years-even when we had close to the surface,easy access oil it did not hold a candle to the oil fields in the countries that were shut down with war and lies to make lifting frack/shale/tar oil viable---to be very specific,some oil producing areas in Canada and the US have somewhat "cheaper" oil than frack and tar oil-----but the goal of the oil corporations for over 40 years has been to bring oil prices high enough that even much more expensive 'extraction possibilities' like north American frack/shale/tar REMAIN,permanently economically viable----if all that we are going to do is let international oil corporations develop and extract frack/shale/tar oil you can count on sky high fuel prices from now on--and I guess it is simple-----high prices make it possible,and even profitable to develop and extract frack/shale/tar oil....eh!! I think the water and the forests they are ruining to do it are worth 10 times more to us than the ridiculously high fuel prices we have seen for a decade.
TheSnowstorm
Champion Author Montreal

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Message Posted: Jul 3, 2014 7:19:11 AM

Regulate speculation (like it used to be); take care of domestic needs and supplies first (providing a stable, reasonable price) and then sell off the rest on the global markets for whatever the market will bear. The result will be consumers being much happier, stable energy costs and oil/gas industry being viewed in a better light.

Simple, eh?
fedupp
Champion Author Cleveland

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Message Posted: Jul 3, 2014 7:01:45 AM

While everybody is thinking clear about the trade law changes MR2 is talking about-why not try taking it one step further,and do some reading on just how expensive it is to get frack/shale/tar oil out of the ground,in several different ways---and realize no one is ever going to get cheap fuel out of it------if frack/shale/tar oil was cheap,and easy to access--like oil from real oil fields in true oil rich countries---it would not be called frack/shale/tar oil--it would be called,oil from real oil wells on real oil fields----the trade law changes that MR2 is talking about were just one of the many tools that were used the last 11 years,to first drive world market oil prices high enough,and then keep world market oil prices high enough to frack for oil-and steam tar out of sand pits----anyone who knows about oil will tell you the same thing-----first you need sky high manipulated world market oil prices(Iraq war,propaganda war on Venezuela,sanctions on Iran,trade law changes,etc.)then you need the legal ability to contaminate ground and surface water,without the possibility of prosecution-that was done with the 2005 energy policy act-it eliminated the clean water act of 1970,and gave us mandated corn ethanol(also so the oil companies can't be sued for, water rights,land rights,property value loss,etc.) then AND ONLY THEN is it worth lifting very expensive frack/shale/tar oil---the thing that gets me is the evidence for what I am saying,and what everybody in the oil business has known for years is all around us------you see it in the high prices every time you pass a gas station------and local prices may go up and down a few cents-but the price per barrel stays just below,at or around $100.00 per barrel-because frack/shale/tar oil have very high viable points,and much lower than that,it's just not worth lifting.true oil rich countries could(and did)market MUCH cheaper oil than the oil corporations here can--frack/shale/tar oil are not even close in lifting price to oil from true oil rich countries.they knew about the shale fields decades ago-but it was always way too expensive to lift, until march 20 2003.
rick_evans
Champion Author Boston

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Message Posted: Jul 3, 2014 6:03:03 AM

oil-k
sawdust1825
Champion Author Illinois

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Message Posted: Jul 3, 2014 6:02:02 AM

Prices actually dropped here yesterday.
66pony
Champion Author Twin Cities

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Message Posted: Jul 3, 2014 6:01:50 AM

OK
Petrock
Champion Author Lexington

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Message Posted: Jul 3, 2014 6:00:47 AM

Oil AND gasoline inventories down? Time for speculators to push prices up!
fillerupyeoww
Champion Author Columbus

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Message Posted: Jul 3, 2014 5:59:39 AM

Won't change anything.
grab4it
Champion Author Fort Worth

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Message Posted: Jul 3, 2014 5:59:16 AM

Good
BigBearHug
Champion Author Amarillo

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Message Posted: Jul 3, 2014 5:59:06 AM

great
sappie
Champion Author Massachusetts

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Message Posted: Jul 3, 2014 5:58:20 AM

keep the oil here.
cowboy1217
Champion Author Iowa

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Message Posted: Jul 3, 2014 5:58:00 AM

I am thankful that there are still clear thinking people like 1988mr2guy. Keep right on sharing. People need to hear what you are writing.
abk
Champion Author Utah

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Message Posted: Jul 3, 2014 5:57:52 AM

Yeah data.
vjmagic
Champion Author Fort Worth

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Message Posted: Jul 3, 2014 5:57:06 AM

ok
Bussman
Champion Author Dallas

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Message Posted: Jul 3, 2014 5:56:29 AM

Ok.
friday21
Champion Author Toronto

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Message Posted: Jul 3, 2014 5:56:21 AM

Ok
GamePlayer420
Champion Author Washington

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Message Posted: Jul 3, 2014 5:55:10 AM

Crude oil not staying in our country.
shivarr
Champion Author New Jersey

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Message Posted: Jul 3, 2014 5:52:52 AM

ok
Sanpoil
Champion Author Spokane

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Message Posted: Jul 3, 2014 5:51:47 AM

Speculators suck.
JSX515
Champion Author St. Louis

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Message Posted: Jul 3, 2014 5:51:11 AM

Control of supply keeps prices high
tallyman
Champion Author Tallahassee

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Message Posted: Jul 3, 2014 5:51:11 AM

Ok.
jeff95519
Champion Author California

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Message Posted: Jul 3, 2014 5:51:07 AM

pump baby pump
LeeFree
Champion Author Pittsburgh

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Message Posted: Jul 3, 2014 5:50:57 AM

I totally agree 1988MR2guy. It will never happen though because Wall Street owns too many politicians in Congress for that type of legislation to even be drafted let alone voted upon.
twt
Champion Author Virginia Beach

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Message Posted: Jul 3, 2014 5:50:44 AM

Just more BS, to justify rising gas prices.
subnuke
Champion Author Atlanta

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Message Posted: Jul 3, 2014 5:50:41 AM

ok
Ferdman17
Champion Author Albany

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Message Posted: Jul 3, 2014 5:50:29 AM

I can only wish it would help drive prices down, but it won't...
jflabbe96
Champion Author Pennsylvania

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Message Posted: Jul 3, 2014 5:48:32 AM

Too bad that this information is useless. There is always a reason to justify increasing prices, and big oil will use all of them.
AESJOBLOM4
Champion Author Florida

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Message Posted: Jul 3, 2014 5:48:08 AM

CARRY ON
O4SHR
Champion Author New Brunswick

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Message Posted: Jul 3, 2014 5:47:51 AM

Summer holidays.
bills299
Champion Author Atlanta

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Message Posted: Jul 3, 2014 5:47:33 AM

More use during the summer!
WEB0153
Champion Author Maryland

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Message Posted: Jul 3, 2014 5:47:08 AM

ok
Rednix
Champion Author Miami

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Message Posted: Jul 3, 2014 5:46:56 AM

Keep bumping it up. We have a lot of oil.
willinh
Champion Author New Hampshire

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Message Posted: Jul 3, 2014 5:45:23 AM

OK
jppezz
Champion Author New Mexico

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Message Posted: Jul 3, 2014 5:43:27 AM

Oil companies get away with anything they want.
kobes1
Champion Author Florida

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Message Posted: Jul 3, 2014 5:42:09 AM

What crap
NJColt
Champion Author New Jersey

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Message Posted: Jul 3, 2014 5:40:46 AM

EIA REPORTS = WORTHLESS
hawkman1950
Champion Author Michigan

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Message Posted: Jul 3, 2014 5:40:38 AM

What ever.
1988MR2guy
Champion Author California

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Message Posted: Jul 3, 2014 5:38:46 AM

HOW TO FIX THE COMMODITIES FUTURES SPECULATION PROBLEM

1. require that all sellers of futures contracts have the actual underlying commodity on hand in physical inventory, or be in the day-to-day business of drilling for it, mining it, growing it, etc. Enforce this by random on-site inspection. Violation will be a federal felony with mandatory minimum incarceration on the first offense.

2. require that all buyers of futures contracts have the physical ability to take actual delivery of the underlying commodity. Enforce this by random on-site inspection. Violation will be a federal felony with mandatory minimum incarceration on the first offense.

3. eliminate the practice known as "naked short-selling."

4. reinstate the up-tick rule for all short sales.

5. reinstate the recently repealed Glass Steagal act and get bankers out of the trading business, and traders out of the banking business.

And one more point:

6. require that all 'long' positions in commodities futures be transacted in the CASH ACCOUNT and not in the MARGIN ACCOUNT. Want to buy a contract? Fine - pay cash for it - all of it. And along with this, require that all short positions be "against the box" in the CASH ACCOUNT. If you don't know what "against the box" means, please look it up!

Please note that the above provisions do NOT make "speculation illegal."

What they do is to return the commodities markets and their exchanges to the original purpose: to provide a market and a liquidity to people and companies involved in the day-to-day production of the commodity.
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