August 28th, 2020
The key points from the video transcript are as follows:
- The average demand for barrels of oil per day has increased compared to previous weeks, which is typical for this time of year.
- Gasoline demand is expected to increase in the coming weeks, leading up to the July 4th weekend, which is typically the peak for gasoline demand.
- Distillate inventories have seen a draw, but there are concerns about exports and the impact on overall demand.
- Refiners are expected to ramp up production, leading to increased utilization rates and potentially lower exports.
- Imports have slightly increased, driven by flows from the Middle East and Asia to the west coast.
- Crack spreads are expected to weaken due to increased volume in the market, but not crash.
- Pad one (East Coast) has limited capacity, but there is potential for additional capacity to be brought in through the Colonial Pipeline.
- Fuel oil in pad three (Gulf Coast) is expected to set new records in 2023.
- Demand has seen a spike, but is currently below seasonal norms.
#energyindustry #oilindustry #demand #exports #refining #imports #gasoline #distillate #fueloil #truckingdata
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