The American Petroleum Institute (API) has announced that total petroleum deliveries in December 2016 increased 0.5% from December 2015, and were up 0.6% from November 2016, to average nearly 19.7 million bpd. These were the highest December 2016 deliveries since 2010.
For 4Q16, total domestic petroleum deliveries, a measure of US petroleum demand, increased by 1.1% compared to 4Q15. For year to date, total domestic petroleum deliveries increased by 0.4% compared to the same period last year to 19.6 million bpd.
According to a report from the Bureau of Labor and Statistics (BLS), published on 6 January 2017, the overall economy in the US showed slight growth in December 2016, adding 156 000 jobs.
In December, gasoline deliveries were down from the prior month, the prior year, and the prior quarter, but were up from the prior year to date. Gasoline deliveries decreased by 1.5% from November, and fell by 1.3% from December 2015, to average slightly above 9 million bpd. These were the second highest December deliveries in nine years.
Domestic crude oil production in December was down from the prior year, the prior quarter, and the prior year to date, but was slightly up from the prior month. At an average of nearly 8.8 million bpd, US crude oil production in December decreased 4.8% from December 2015, but increased 0.6% from November. December’s crude oil production was the lowest December output since 2013.
US total petroleum imports in December averaged just above 10 million bpd, down by 3% from the prior month but up 3.1% from the prior year. This was the highest output for the month of December since 2011.
Crude oil stocks (excluding lease stocks) reached its highest inventory level for the month of December since 1929. Crude oil stocks were 7.6% higher higher than December 2015. However, stocks of motor gasoline were down by 0.6% from December 2015.
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