API: US petroleum demand last month highest for October since 2007; 19.9 mbpd
18 November 2017
Total petroleum deliveries in October moved up by 1.1% from October 2016 to average 19.9 million barrels per day, according to data from the American Petroleum Institute (API). These were the highest October deliveries since 2007. Compared with September, total domestic petroleum deliveries, a measure of US petroleum demand, decreased 1.8%. For year-to-date, total domestic petroleum deliveries moved up 1.2% compared to the same period last year.
Gasoline production was up from the prior month, but was down from the prior year and the prior year-to-date. In October, gasoline production reached the second highest output for the month of October, up 3.5% from the prior month, but down 0.2% from the prior year to average 10.0 million barrels per day in October.
For year-to-date, gasoline production decreased 1.5% compared to the same period last year and was the second highest year-to-date on record. Distillate production in October reached the highest production level for the month of October at just below 5.0 million barrels per day.
This was up 9.7% from the prior month, up 7.4% from the prior year, and up 3.0% from the prior year-to-date. Distillate production year to date 2017 was the second highest year to date on record. Kerosene-jet production averaged nearly 1.6 million barrels per day in October, reaching the second highest output in October since 2000.
The economy continues to grow as fuel demand remains strong and more people find work. Unemployment went down last month and gas prices remain relatively low benefiting American businesses and workers.
—API Director of Statistics Hazem Arafa
US crude oil production in October remained strong and above 9.0 million barrels per day for the ninth consecutive month. Domestic crude oil production increased 7.0% from the prior year and reached the highest October output in 45 years, since 1972, to average 9.4 million barrels per day in October.
Compared with the prior month and the prior year to date, crude oil production decreased 1.1% and increased 3.3%, respectively. The month-ago declines in crude oil production likely reflected the impact of Hurricane Nate.
US total petroleum imports decreased 5.4% from September and decreased 0.8% from October 2016 to average just above 9.6 million barrels per day in October. These were the lowest imports since November 2015. For year-to-date, total petroleum imports were up 1.6% compared with year-to-date 2016. Crude oil imports decreased 3.6% from October 2016 to 7.3 million barrels per day in October. These were the third lowest imports for the month of October in 21 years, since 1996. Compared with September, crude oil imports were 2.1% lower. For year-to-date, crude imports were up 2.2% compared with year-to-date 2016.
Have more $$$ = will buy larger vehicles = will consume more Oil = will produce more pollution and GHGs?
Posted by: HarveyD | 18 November 2017 at 06:25 AM
I said to only buy cheap small gas cars and drive them slowly, Is it clear now or what ? We can clearly see that the memory of Hitler and che guevarra are still influencing the stupids to buy big heavy suvs and for some even more stupids to buy costly toxic big battery cars and suvs.
Posted by: And Bri | 18 November 2017 at 06:37 AM
This is an interesting time for oil. There could be a scenario where fracking is overplayed and will not be able to scale up from here profitably. Meanwhile conventional extraction and exploration are suffering from a lack of investment and is declining. So the price of oil could continue to increase over the next 3-4 years making EVs even more attractive.
Posted by: DavidD | 18 November 2017 at 08:29 AM
Number one; this is the API's figures which is the lobbying organization for Big oil, so there is doubt about these numbers, especially considering how emerged the API is in Washington politics. I wouldn't make any money decisions based on these numbers...you may want to still dump your oil stocks like the stock banks are doing.
Posted by: Lad | 18 November 2017 at 08:13 PM
"We can clearly see that the memory of Hitler and che guevarra are still influencing the stupids to buy big heavy suvs and for some even more stupids to buy costly toxic big battery cars and suvs"
I'll attribute this bit of psychobabble to some challenge in expression other than your native language. What exactly were you trying to say?
Posted by: Herman | 20 November 2017 at 09:17 AM
You were banned for cause, Gor. Go away.
Posted by: Engineer-Poet | 20 November 2017 at 09:07 PM