Gasoil/diesel output jumps 300kbd w/w while gasoline output lags 5-year average

Gasoline stocks edged up 400kb from last week's multi-year low and diesel stocks were flat at 105Mb, both sitting about 14Mb below the 5-year average. Jet fuel stocks fell by just over 1Mb to their lowest since early March, almost re-aligning with the 5-year average, while fuel oil stocks rose 450kb to a five-month high.

Market & trading calls:

• US crude stocks fell by a little over 3Mb in the week ending 2 October, trending in line with the 5-year average. 
• Crude intake rose by roughly 200kbd w/w, exceeding the 5-year range and last year's levels by some 100kbd. 
• Gasoline stocks added just 400kb from last week's multi-year low and remain about 14Mb (-6%) below the 5-year average. 
• Gasoil/diesel stocks were flat w/w at 105Mb, about 14Mb (-12%) below the 5-year average. 

US crude stocks declined by a little more than 3Mb over the week ending 2 October in today’s weekly EIA data release, trending in line with the 5-year average. At the same time, nationwide crude intake was up by roughly 200kbd w/w, exceeding the 5-year range, or last year’s levels by some 100kbd. 

Gasoline stocks added just 400kb from last week’s multi-year low reading, still trending some 14Mb below the 5-year average (or -6%), while gasoil/diesel stocks were flat w/w at 105Mb, likewise sitting some 14Mb below the 5-year average (or -12%). Jet fuel stocks shed a little over 1Mb w/w, settling at the lowest level since early-March, and almost re-aligning with the 5-year average. Finally, fuel oil stocks increased by some 450kb w/w, reaching the highest level since early-May. 

Gasoline production fell by 150kbd w/w, undershooting the 5-year average by 300kbd. By contrast, gasoil/diesel production added almost 300kbd w/w, thereby exceeding the 5-year average by roughly 300kbd, highlighting the ongoing focus in terms of production incentives. 

US: Crude intake (Mbd)

Source: EIA 

US: Gasoline production (kbd)

Source: EIA 

US: Gasoil/diesel production (kbd)

Source: EIA

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