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US Oil Trade - December 2016

Source: OPEC 12/22/2016, Location: North America

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Preliminary data for November shows that US crude oil imports increased over the month to average 7.8 mb/d, up by 114 tb/d from the previous month and 413 tb/d from a year earlier. On a year-to-date basis, US crude imports in November were higher by 550 tb/d.

US monthly product imports also were up in November by 316 tb/d, or 16%, to average 2.4 mb/d. In an annual comparison, product imports were up by 570 tb/d.

Total US exported products in November reached 4.6 mb/d, up by 505 tb/d from a month earlier. Annually, product exports were down by 29 tb/d or 1%. As a result, US total net imports were lower than in the previous month to average 5.1 mb/d, showing a drop of 106 tb/d from the year before.

The top first and second suppliers to the US in September remained the same as before. Canada was the premier crude supplier to the US, accounting for 41% of total US crude imports, reflecting a minor change from the previous month, down by 7 tb/d. Saudi Arabia maintained its status as second-largest supplier to the US in September. Saudi exports rose from the previous month by 67 tb/d. Venezuela came in as third top supplier, accounting for 10% of total US crude imports, with higher volumes from a month earlier of 63 tb/d, or 6%.

Crude imports from OPEC Member Countries went up in September from one month earlier by 196 tb/d, or 6%, accounting for 41% of total US crude imports. US product imports from OPEC Member Countries declined in September from the previous month by 46 tb/d, or 15%. Canada and Russia maintained their positions as first and second product suppliers to the US, accounting for 24% and 16%, respectively, though imports from both countries were lower in September. Algeria was the third-largest supplier to US, though down by 26 tb/d, or 7%, from the previous month.

Looking into US crude imports by region, September imports from North America averaged 3.3 mb/d, making it the top importing region to the US, followed by Latin America and the Middle East, which came in as second- and third-biggest regional suppliers to stand at 2.1 mb/d and 2 mb/d, respectively. Imports from North America stayed about the same, with no major changes from the previous month, while those from the Middle East increased by 200 tb/d.

Regarding crude imports by PADD; PADD 1 crude imports declined from all regions from one month before, with OECD Europe being the only exception, from where imports rose by 73 tb/d. PADD 2 imports continued to be largely covered by North America, averaging 2.2 mb/d, flat from a month before. Imports from the Middle East only averaged 24 tb/d for PADD 2 in September. In PADD 3, Latin America and the Middle East remained the main exporters, with average volumes of 1.6 mb/d and 1.3 mb/d, respectively. As seen previously, all imports to PADD 4 arrived solely from North America, averaging 299 tb/d in September, up by 34 tb/d from the month before.

Imports to PADD 5 came from different regions, though remaining primarily covered by the Middle East and Latin America. Both regions showed higher volumes from the previous month by 107 tb/d and 54 tb/d, respectively.

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