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SunSirs:Inventory Decline and Profit Out & Crude oil Waiting for New News Guidelines

August 30 2019 15:46:08     SunSirs (John)

  SunSirs News, August 29thFocus News1.According to data released by the US EIA, As of August 23, U.S. commercial crude oil stocks excluding strategic reserves fell far more than expected, while gasoline and refinery stocks also fell more than expected. As of August 23, the EIA crude oil inventory change was actually reduced by 1.027 million barrels, which is expected to decrease by 2.941 million barrels, and the previous value decreased by 2.732 million barrels. In addition, as of August 23, the EIA gasoline inventory actually announced a decrease of 2.09 million barrels, is expected to reduce 138,000 barrels, the previous value increased by 312,000 barrels; as of August 23, the EIA refined oil inventory actually announced a decrease of 206.30 million barrels, which is expected to increase by 1.157 million barrels, and the previous value will increase by 2.61 million barrels. The EIA report also showed that US domestic crude oil production increased by 200,000 barrels to 12.5 million barrels per day last week. In addition to the strategic reserve of commercial crude oil inventories decreased by 10.027 million barrels to 427.8 million barrels, a decrease of 2.3%. US crude oil exports last week increased by 216,000 barrels per day to 3.019 million barrels per day. The average supply of US crude oil products around the week was 21.689 million barrels per day, an increase of 2.3% over the same period last year. In addition to strategic reserves, commercial crude oil imported 5.928 million barrels per day last week, a decrease of 1.29 million barrels per day from the previous week.2.According to Citigroup, the new pipeline could help U.S. oil exports increase by another 1 million barrels a day from the current 3 million barrels a day to the end of the year and another 1 million barrels a day by 2020. Citigroup data also shows that exports this year increased by an average of 97,000 barrels per day over last year. Edward Morse, head of global commodity research at Citigroup, said U.S. crude oil exports are expected to reach 4 million barrels a day in the next six to eight months, much larger than North Sea crude exports (less than 2 million barrels a day, the initial pricing benchmark for Brent crude), if the U.S. exports reach 6 million barrels in the next three years./ In Japan, then US crude oil may replace Brent crude oil as the main crude oil benchmark.

  summary:The day before, the macro face was exhausted, the US API crude oil inventory data was positive, and crude oil rebounded sharply. Yesterday, EIA data was in line with API expectations. US crude oil production increased by 200,000 barrels per day. Crude oil surged before EIA data was released. The recent crude oil or shock consolidation will wait for new news guidance.

  Crude oil stocks are transferred to the finished oil end. According to the relevant data of agencies such as Kayrros, the global crude oil inventories in the first two months of the third quarter have been smoother. From an absolute level, they have returned to the starting point before the global pool in March this year, but the US gasoline consumption season Not prosperous, the gasoline crack spread has fallen to a low level in the same period of the past five years, and the gasoline depot is lower than expected.

  EFS2.48; B/W spread of 4.71, the US regional spread narrowed, and the MARS and WTI spread narrowed from 8 on July 22 to 0.65.

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