The American Petroleum Institute (API) has released a monthly statistical report for July 2015, which shows that the total petroleum deliveries (a measure of demand) grew by 2.2% from July 2014. The deliveries averaged approximately 19.6 million bbls.
Gasoline demand rose last month by 2.1% (9.4 million bbls) from July, and distillate demand rose by 1.1%. The report also showed that US crude oil production increased by 8.8% from July 2014, averaging 9.5 million bpd, and natural gas liquids production averaged approximately 3.4million bpd.
Refinery gross inputs in July increased by 0.1% from the previous year to reach a record high for the month at nearly 16.9 million bpd. Exports of refined petroleum products were up over the same period. The refinery capacity utilisation rate in July averaged above 90% for the fourth consecutive time this year at 94%.
API Chief Economist, John Felmy, said: “Demand for and production of oil and refined products grew across the board over the last year. In fact, demand for and production of oil and refined products were the highest July in eight years, since 2007.”
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