In the beginning of the fourth quarter
Posted by Heading Out on November 3, 2005 - 1:07am
Topic: Demand/Consumption
Tags: distillate, gasoline stocks, peak oil [list all tags]
Although the four-week averages of the gasoline demand show that demand is still approaching last year's, the weekly number has now passed 9 mbd, above last year.
However, as the import numbers suggest, taking individual weekly data by itself can be a mistake, since over the past week imports have turned back up by 200,000 bd after dipping down, and so are still that half-a-million above normal.
. At present the volume in stocks seems to remain fairly steady at the average of the past few years volume.
and with production beginning to rise
so that it is now about the same as last year, as is the current level of imports and stocks are a little ahead of last year.
So this week's news is perhaps at first that there isn't any. However, Platts reports that DoE is anticipating stronger imports from Asia.
The US Department of Energy expects there to be strong imports into the country this coming winter from around the world, but most notably from Asia, Deputy Assistant Secretary Mark Maddox told a House panel Wednesday.Given that Platts is also quoting Exxon Mobil that the Chalmette refinery is initiating start-up procedures which is ahead of the quoted start-up that we had a reference to yesterday, at present the news would appear to be good.In prepared remarks for presentation to the Energy and Commerce Committee, Maddox noted that, "based on our conversation with industry, we expect that distillates will continue to enter into the US from all over the world, but especially from Asia."




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