Oversupply of Total Petroleum Products

July 17, 2020

Much discussion has centered around the oversupply of distillates because of refinery configurations producing unneeded supplies of distillates.  However, taken as whole, considering that  inventories of crude oil, gasoline, naphtha, kerosene, jet fuel, diesel fuel, etc. together now are at record levels for the last 35 years. While crude oil and refined product prices have recovered from historic lows during the last three months, these price levels may be only temporary given the serious bearish fundamentals.

The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > DOE > Crude Oil > Stocks > Total Stocks (Excluding SPR)

Figure 1 – US Total Petroleum Stocks

Latest Data as of Friday, July 10, 2020   1,452 million barrels

Figure 2 – US Total Petroleum Stocks (Year-over-Year)

Latest Data as of Friday, July 10, 2020   1,452 million barrels


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The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.

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