Oil inventories are still close to all time highs in major worldwide hubs

Despite recovering demand, oil inventories are still close to all time highs in major worldwide hubs

Source: Fujairah Energy Data Commitee

Source:Petroleum Association of Japan

Source: Reuters

Source: Reuters

 

Departing Flights vs Wti price since Covid-19 oubreak began

After worldwide car traffic data, I would like to show how less worldwide departing flights have impacted on WTI price since Covid-19 outbreak began.

Departing flights vs WTI
Departing flights vs WTI
DateTime7-day moving averageNumber of flightsWTI
2020-01-2418151718955154.19
2020-01-2518166716230155.19
2020-01-2618144916426756.19
2020-01-2717968217673653.14
2020-01-2817788917831053.48
2020-01-2917791418442553.33
2020-01-3017740418623952.14
2020-01-3117674618494951.56
2020-02-0117557015406752.56
2020-02-0217477015866653.56
2020-02-0317515617944150.11
2020-02-0417407017070849.61
2020-02-0517270517486550.75
2020-02-0617066117193450.95
2020-02-0717018418161150.32
2020-02-0817244316988151.32
2020-02-0917158415265152.32
2020-02-1016873115947249.57
2020-02-1116746116181949.94
2020-02-1216765317620451.17
2020-02-1316831717658551.42
2020-02-1416988919261352.05
2020-02-1516980516929353.05
2020-02-1617047515734552.36
2020-02-1717252017378552.2
2020-02-1817400417220852.05
2020-02-1917510918393853.29
2020-02-2017608718343053.78
2020-02-2117667919675653.38
2020-02-2217753317527454.38
2020-02-2317880616625255.38
2020-02-2417880617378851.43
2020-02-2517884217245649.9
2020-02-2617738017370848.73
2020-02-2717788218694247.09
2020-02-2817750619412544.76
2020-02-2917634616715445.76
2020-03-0117652016747046.76
2020-03-0217636317268946.75
2020-03-0317699717689247.18
2020-03-0417823518237846.78
2020-03-0517848318867445.9
2020-03-0617769218858741.28
2020-03-0717788516850742.28
2020-03-0817841617118743.28
2020-03-0917879617535031.13
2020-03-1017798217119334.36
2020-03-1117783418134132.98
2020-03-1217658317992031.5
2020-03-1317420817196131.73
2020-03-1417238315572932.73
2020-03-1516985915352133.73
2020-03-1616727915729328.7
2020-03-1716401214832526.95
2020-03-1815872514433020.37
2020-03-1915189913213525.22
2020-03-2014578112913822.43
2020-03-2114004311556423.43
2020-03-2213270910218124.43
2020-03-231238429522723.36
2020-03-241167309853924.01
2020-03-251096089447724.49
2020-03-261045859697022.6
2020-03-27988908927621.51
2020-03-28923116950822.51
2020-03-29869316452223.51
2020-03-30839417429520.09
2020-03-31809307746520.48
2020-04-01789238043120.31
2020-04-02759317602225.32
2020-04-03735757278528.34
2020-04-04724416157029.34
2020-04-05713765706530.34
2020-04-06703946742026.08
2020-04-07697787315723.63
2020-04-08689447459125.09
2020-04-09678876862322.76
2020-04-10672306818823.76
2020-04-11673766259224.76
2020-04-12658374629425.76
2020-04-13639515421422.41
2020-04-14637587180820.11
2020-04-15638107495319.87
2020-04-16647527521619.87
2020-04-17653087208118.27
2020-04-18646755816319.27
2020-04-19663475799420.27
2020-04-206823567434-37.63
2020-04-21687447537110.01
2020-04-22692407842713.78

*Commercial flightsCommercial passenger flights + cargo flights + charter flights + some business jet flights.

Total flightsCommercial flights above + rest of business jet flights + private flights + gliders + most helicopter flights + most ambulance flights + government flights + some military flights + drones

#Covid-19 might not be as bad as you think for oil demand

‘Back to life’ will probably mean social distancing for a while. A new normal where people do old things in different ways. In China one of the most important change is that people are switching from public transport (bus, metro) to private cars and the reason is that the risk of infection.

Screenshot_20200321_064524

This is what happened in China during the SARS travel lockdown which was in place for all of 2003 and 2004.

394803-15828856108681304_origin

History doesn’t repeat itself but it often rhymes.

UPDATE – #EIA Weekly Petroleum Status Report – twitter sentiment Positive tweets percentage: 5.2631578947368425 % Negative tweets percentage: 82.89473684210526 % #oott #crude

Positive tweets:
The effect of oil prices on natural gas production https://t.co/w1VDSTijv7 | #oil #crudeoil #brentoil #forex #fx… https://t.co/TgcNXnwuQp
EIA expects lower natural gas prices in 2020 as production outpaces demand https://t.co/Ca5o9nl3nl | #oil #crudeoil… https://t.co/SQgQYAKffX
Reuters: U.S. crude oil stockpiles rose unexpectedly last week and gasoline inventories surged by their most in a w… https://t.co/hyOJwj1v8X
RT @TankerTrackers: Report: Crude Oil Export to the World’s Top 6 Destinations during December 2019 #OOTT

Check out how many barrels were…

Negative tweets:
RT @GasBuddyGuy: –> EIA week ending 1/10 <–
Crude oil: -2.5M
Gasoline: +6.7M
Distillates: +8.2M
Refiner utilz: 92.2%
Imp gasoline demand…
Sh*t That Moved The Market:
[10:30 AM ET] US EIA Crude Oil Inventories Actual -2.549Mln (Forecast -0.474Mln, Previo… https://t.co/XblKPQOWMv
RT @chigrl: EIA (wk ending 10 Jan)
Crude: -2.549M
Cushing: 0.342M
Gasoline: 6.678M
Distillates: 8.171M
Breaking: #Oil Inventories Dropped by 2.55M Last Week – EIA – https://t.co/kBLVznwWgo $USO #crude
CL taking a post EIA dive. With crude < 58, reflation trade is getting some question marks.
RT @csidetrader: #EIA
Crude -2.549MM
Gasoline +6.678MM
Distillates +8.171MM
Cushing +0.342MM

API

Crude +1.103MM
Gasoline +3.198MM
Distill…
EIA #oil data: U.S. crude oil imports averaged 6.6 mln bpd last week, -179,000 bpd vs previous week; last 4 weeks… https://t.co/G7yM5uSVe1
US ZONE
Crude Oil Inventories
-2.549MVS1.164M
EIA Refinery Crude Runs (WoW)
0.076MVS-0.386M
Crude Oil Imports
-0.59… https://t.co/w00A0jgfma
Crude imports by origin in kbpd (incl. w/w changes)

Canada +231 to 3837
Saudi Arabia -213 to 203
Mexico +19 to 595… https://t.co/bsLVqMSw9C
RT @robert__gibbons: #EIA #oil #data:

crude -2.5 mln bbls; at 428.5 mln = to 5-yr avg for period

gasoline +6.7 mln bbls, +5% to 5-yr avg…