Combined California diesel stocks fell to the lowest level in California Energy Commission (CEC) history in the week ended 24 May.
Combined diesel inventories — including in-state CARB, non-California EPA and renewable diesel — totaled 2.3mn bl after significant draws across grades, despite a sharp increase in-state CARB diesel output during the week, according to CEC data going back to 2005.
In-state CARB diesel stocks totaled 1.37mn bl by the end of the week and marked a 13pc drop from the week prior. Other diesel fuel inventories contracted by nearly 17pc to 929,000 bl.
Production of in-state CARB diesel jumped by nearly 40pc in the week to 128,000 b/d, while other diesel output — including non-California EPA and renewable diesel — plummeted by more than 44pc to average 51,000 b/d.
In-state CARBOB gasoline production dipped by 2.8pc to average 800,000 b/d from the week prior, although inventories added a nominal 1.8pc to a nine-week high of 6.10mn bl. Total gasoline production trended 2.7pc lower at 879,000 b/d.
California jet fuel production jumped by nearly 18pc to 321,000 b/d, the highest level since 19 April. Inventories grew by 0.6pc to 3.24mn bl, continuing a trend of largely stable volumes since 10 May.
Crude throughputs increased by 9.4pc to 1.44mn b/d as stocks shrank by 19pc to 11.1mn bl — the lowest volume since January 2024.
| California refining throughputs and storage | |||
| Commodity | 24-May-24 | 17-May-24 | ± |
| Throughputs '000 b/d | |||
| Crude | 1,440 | 1,316 | 124 |
| CARBOB | 800 | 823 | -23 |
| Total gasoline | 879 | 904 | -25 |
| Jet fuel | 321 | 273 | 48 |
| California distillate | 128 | 92 | 36 |
| Inventories '000 bl | |||
| Crude | 11,098 | 13,670 | -2,572 |
| CARBOB | 6,098 | 5,988 | 110 |
| Jet fuel | 3,235 | 3,215 | 20 |
| California distillate | 1,373 | 1,586 | -213 |
| California Energy Commission | |||
