API: petroleum demand up
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
The American Petroleum Institute (API) has reported that total petroleum deliveries in August 2017 moved up by 1.3% from August 2016 to average 20.5 million bpd. These were the highest August deliveries in 10 years, since 2007. Compared with July, total domestic petroleum deliveries decreased 0.6%. For year-to-date, total domestic petroleum deliveries moved up 1.3% compared to the same period last year.
API Director of Statistics, Hazem Arafa, said: “Strong economic growth is boosting petroleum demand […] Meanwhile domestic production remains high allowing consumers and businesses to continue to enjoy relatively low fuel costs. This is a winning combination.”
Gasoline deliveries in August were down from the prior month, the prior year, and the prior year to date. Total motor gasoline deliveries, a measure of consumer gasoline demand, decreased 1.5% from August 2016, to average 9.5 million bpd. Compared with July, total motor gasoline deliveries decreased 1.5%.
For year-to-date, total motor gasoline deliveries decreased 0.3% compared with year-to-date 2016 to the second highest year-to-date level at 9.3 million bpd. Distillate deliveries in August were up from the prior month, the prior year, and the prior year-to-date to reach the highest August deliveries in 10 years and the highest deliveries since March. Distillate deliveries averaged 4.1 million bpd, an increase of 6.5% compared with August 2016, and were up 0.7% compared with July. For year-to-date, distillate deliveries increased 3.2% compared to year-to-date 2016.
US crude oil production remained above 9 million bpd for the seventh consecutive month. Domestic crude oil production in August decreased from the prior month but was up from the prior year and the prior year-to-date to reach the second highest August output in 45 years, since 1972. Domestic crude oil production decreased 1.3% from July but was up by 6.8% from August 2016 to average 9.3 million bpd in August.
US total petroleum imports decreased 2% from July and decreased 6.4% from August 2016 to average just below 9.7 million bpd in August. These were the lowest imports since November 2015.
Read the article online at: https://www.hydrocarbonengineering.com/refining/29092017/api-petroleum-demand-up/
You might also like
Hydrocarbon Engineering Podcast
Mike Logue, Owens Corning Global Business Director – Mechanical Insulation, delves into factors that can support the performance, safety and longevity of insulating systems installed in hydrocarbon processing environments, including cryogenic facilities.
Watlow expands facility in Malaysia
Watlow accelerates growth in Malaysia with expanded facility and long-term commitment to southeast Asia’s industrial development.
