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.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/30012019/api-report-shows-record-breaking-december-for-us-oil-and-gas-industry/