Compared with April 2011, total petroleum deliveries slipped 0.3% in April this year. However, gasoline deliveries were up 0.9% to 8.8 million bpd. Distillate demand was up 1.3% during April and jet and residual fuels deliveries declined.
‘A mixed demand picture reflects an improving but relatively weak economy,’ said API Chief Economist John Felmy. ‘Millions remain out of work. The most recent BLS data showed job growth, but it was less than expected.’
Supplies of refined products were ample. US gasoline production of 9.129 million bpd setting a record for any April and for any comparable year to date period. Distillate fuel production at 4.27 million bpd was the second highest for any April and a year to date record too. Refinery utilisation came in the same as April 2011, yet total refinery inputs were up very slightly.
US refinery production outpaced domestic demand for petroleum products. Exports of refined products increased by 1.7% over April 2011. Imports of crude and refined products fell this April by 9.2% to average 10.4 million bpd. Canadian crude imports decreased by 4.3%, falling just below 2 million bpd.
The US domestic crude oil production rose by 6.6% in April to average 5.963 million bpd. Rising North Dakota production in March set a record 551 000 bpd.
Adapted from a press release by Claira Lloyd
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