美国原油储备接近5月临界水平

原标题：美国原油储备接近5月临界水平

    中国石化新闻网讯 据世界石油网站11月20日报道 美国最重要的原油储存中心储罐再次面临储满，很快接近5月份价格暴跌后达到的临界水平。

    美国政府最新数据显示，截至11月13日，西德克萨斯中质原油期货交割地俄克拉荷马州库欣的库存量为6160万桶，约占产能的81%，比5月份的水平少383万桶。

    虽然不太可能重蹈4月份油价下跌的覆辙，但日益严重的供应过剩让人们明白，遏制疫情的封锁措施可能很快就会迫使贸易商将石油储存在所有可用的角落，包括船只和管道。

    这一增长背后的原因与之前类似：随着冠状病毒病例再次激增，炼油厂仍在应对需求低迷。除此之外，其中一些还进行了季节性维护。

    伍德麦肯兹研究总监Hillary Stevenson表示：“即使这些设施重新上线，我们也看到，流入库欣的过剩原油盖过了需求的增长。”

    美国能源信息署的数据显示，随着各州重新实施限制措施，上周汽油需求日环比下降50万桶，创下5月以来最大单周降幅。

    石油所谓的期货曲线的结构也促使交易员们储存石油。WTI一直处于续价税状态，较近日期的合约较后期合约有折扣。这意味着，如果价差足够大，交易商可以通过储存原油来获利，以便在供过于求的情况下以更高的价格出售。

    不过，对最终疫苗的押注提供了缓冲。自4月20日历史性的崩盘以来，很多事情都发生了变化，当时WTI崩溃，收于每桶负37.63美元。

    王磊 摘译自 世界石油

    原文如下：

    U.S. crude stockpiles approach May’s record on new lockdowns

    Oil tanks in America’s most important crude storage hub are filling to the brim once again, quickly approaching the critical levels reached in May after prices crashed.

    Stockpiles at Cushing, Oklahoma, the delivery point for West Texas Intermediate futures, stood at 61.6 million barrels as of Nov. 13, or about 81% of capacity, according to the most recent U.S. government data. That’s 3.83 million barrels shy of the levels seen in May.

    Though a repeat of the negative oil prices seen in April is unlikely, the mounting supply glut brings home how lockdown measures to contain the Covid-19 pandemic may soon force traders to store oil in every nook and cranny available, including ships and pipelines. Some are already doing that.

    The reasons behind the buildup are similar to what happened before: Refineries are still coping with lackluster demand as coronavirus cases surge anew. On top of that, some of them have also been undergoing seasonal maintenance.

    “Even as those facilities come back online, we are seeing excess inflows into Cushing overshadowing increased demand,” said Hillary Stevenson, a research director at Wood Mackenzie Ltd.

    With states reimposing restrictions, demand for gasoline fell by half a million barrels a day last week, the biggest week-over-week decline since May, data from the Energy Information Administration show.

    The structure of oil’s so-called futures curve has also motivated traders to store barrels. WTI has been in contango, when nearer-dated contracts are at a discount to later-dated ones. That means that, if the gap is wide enough, traders can make a profit by storing crude to sell it at a higher price later, when the glut eases.

    Bets on an eventual vaccine have provided a buffer, though. And a lot has changed since the historic crash of April 20, when WTI collapsed to settle at minus $37.63 a barrel.