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US petroleum demand up in June 2.8% year-on-year; highest June deliveries in 9 years

Total petroleum deliveries in June moved up by 2.8% from June 2015 to average 20.1 million barrels per day, according to figures from the American Petroleum Institute (API). These were the highest June deliveries in nine years, since 2007. Compared with May, total domestic petroleum deliveries, a measure of US petroleum demand, increased 2.2%. For year-to-date, total domestic petroleum deliveries moved up 1.7% compared to the same period last year.

Total motor gasoline deliveries, a measure of consumer gasoline demand, moved up 2.7% from June 2015, to average more 9.6 million barrels per day. Compared with May 2016, total motor gasoline deliveries increased 2.1%.

Crude oil production was down from the prior month, the prior year, and the prior year-to-date to the lowest output level since May 2014. Crude oil production decreased 1.8% from May, and was down 7.4% from June 2015 to average 8.6 million barrels per day in June. This was the ninth consecutive monthly decline observed. For year-to-date, crude production was also down 5.4% compared with year-to-date 2015.

US total petroleum imports in June averaged just below 9.8 million barrels per day, up 2.0% from the prior month and up 2.4% from the prior year, but remained the third lowest total petroleum imports for the month of June in 20 years, since 1996. For year-to-date, total petroleum imports were also up 4.3% compared with year-to-date 2015. Crude oil imports increased 2.3% from June 2015 to 7.5 million barrels per day in June 2016. Compared with May 2016, crude oil imports were 1.7% lower.

Crude oil stocks ended in June at 520.9 million barrels–the highest June inventory level in 86 years, since 1930. Crude stocks were down 15.7 million barrels or 2.9% from the prior month, but were up 51.4 million barrels or 10.9% from the prior year. In June, motor gasoline stocks ended at 237.4 million barrels, down 1.4% from the prior month but up 7.4% from prior year. June’s motor gasoline stocks were the highest inventory level for the month of June for 32 years, since 1984.



Soon after January 20th 2017, more drilling for local Oil and Gas will take place and new pipelines will be built to transport Alberta Oil and Gas to Western and Mid-USA and for export from Texas ports. Some refined products will be reshipped to Eastern Canada (for the next 25 to 40 years) because Canada will not authorize new pipelines.

Armored Hummer 4+ (6 to 10 mpg) and other similar 6,000 to 9,000 lbs vehicles will have record sales.

New CPPs will be equipped to recover 80% of CO2 produced. Recovered CO2 will be recycled over and over again to produce some of the liquid fuels required for the 240,000,000+ ICEVs in USA.

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