PADD 3 Crude Stocks as an Indicator of Crude Price Reversal

PADD 3 Crude Stocks as an Indicator of Crude Price Reversal

June 18, 2020

The latest EIA energy report lists crude oil stocks in PADD 3 at 10-year record high of 303.7 million barrels. PADD 3 is the Gulf of Mexico coast region of Texas and Louisiana, the largest crude oil refining region in the US.  While the PADD 3 region has ample storage facilities to handle the large crude oil stocks, the crude oil run cuts at refineries will increase the crude in storage, backing out imports and pressuring crude prices. We will be monitoring the crude storage levels as a potential indicator of an opportunity to short crude futures.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > Crude Oil > Stocks > PADD 3.
PADD 3 Crude Oil Stocks
Latest Data as of June 12, 2020 – 303.7 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.