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API report shows record-breaking December for US oil and gas industry

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Hydrocarbon Engineering,

The American Petroleum Institute’s (API) latest Monthly Statistical Report (MSR) shows the US natural gas and oil industry established multiple records in December.

These include the highest:

  • US production of crude oil (11.7 million bpd) and NGLs (4.8 million bpd).
  • Crude oil exports (2.4 million bpd).
  • Annual gasoline demand (9.3 million bpd).
  • Refinery and petrochemical feedstock demand for December (5.5 million bpd).
  • Refinery throughput for the month of December (17.7 million bpd) and year (17.3 million bpd).
  • Refinery capacity utilisation for the month of December (95.0%) and year (93.0%).

With record refinery throughput, total petroleum inventories – led by refined products – built to within 2.6% of the maximum of the 5-year historical range. Meanwhile, US petroleum net imports fell below 2.0 million bpd in December.

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