By March 18, 2016 Read More →

Feb. US petroleum demand up, gasoline demand sets new record

Distillate fuel oil stocks rose by 32.2% from same period last year to end at 162.8 million barrels, highest Feb. inventory level in 35 years

gasolineTotal petroleum deliveries, a measure of consumer demand, rose 2 percent in Feb. from year ago levels to average 19.8 million b/d, according to the American Petroleum Institute.

These were the highest Feb. deliveries in eight years.

Total motor gasoline deliveries rose 5.2 per cent from Feb. 2015 to 9.1 million b/d and were the highest deliveries for the month on record.

“Low gasoline prices continued to drive up demand in Feb.,” said Hazem Arafa, API director of statistics. “In fact, gasoline demand rose to a new all-time record for the month as drivers took advantage of the low prices.”

Highlights:

  • Feb. distillate deliveries were down from prior year by 17 per cent to average nearly 3.8 million b/d.
  • Crude oil production fell 3.6 per cent from Feb. 2015 to average 9.1 million b/d in Feb. 2016.
  • US total petroleum imports in Feb. averaged nearly 9.9 million b/d, up 6.7 per cent from year ago levels. Refined product imports in Feb. increased by 6.1 per cent from year ago levels to 2.3 million b/d.
  • In Feb., gasoline production averaged nearly 9.9 million b/d, up 3.2 per cent from year ago levels. Distillate fuel production declined by 3.3 per cent from Feb. 2015.
  • API’s latest refinery operable capacity was 18.174 million b/d. Refinery gross inputs moved up by 1.7 per cent from Feb. 2015 to reach a new high for the month, averaging 15.9 million b/d.
  • Exports of crude oil and refined petroleum products increased 6 per cent, to average just below 5 million b/d. This was the highest Feb. export level ever.
  • Crude oil stocks ended in Feb. at 519.6 million barrels, up by 16 per cent from year ago levels to the highest Feb. inventory level in since 1930.
  • Stocks of motor gasoline ended in Feb. at 252.4 million barrels, up 4.9 per cent from the prior year. Distillate fuel oil stocks rose by 32.2 per cent from the same period last year to end at 162.8 million barrels, which is the highest Feb. inventory level in 35 years.
  • Jet fuel stocks rose 10.2 from the prior year to end at 42.5 million barrels. Stocks of “other oils” were down from year ago levels.

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