Crude oil inventories on the U.S. Gulf Coast (USGC) reached 207.2 million barrels (bbl) on April 11, a record high. The elevated inventory levels are the result of the continuing strong crude oil production growth, the opening of TransCanada’s Marketlink Pipeline, and a drop in crude oil inputs at USGC refineries as a result of seasonal maintenance. EIA weekly crude oil inventory data include inventories at tank farms, refineries, and in pipelines. Total working crude oil storage capacity on the USGC totaled 273.3 million bbl as of September 30, 2013 (the most recent date for which that number is available). Tank farm storage accounted for 200.5 million bbl of that capacity, and storage at refineries accounted for 72.9 million bbl. EIA does not include a pipeline capacity number in its working storage capacity estimate. While USGC crude oil inventories typically build during the beginning of the year, this year’s […]