US Oil Trade in September 2014

Source: OPEC 9/16/2014, Location: North America

Preliminary data for August shows that US crude oil imports increased to average 7.6 mb/d, up by 163 tb/d from one month earlier, while still reflecting a drop from the previous year of 449 tb/d or 6%. On a year-to-date basis, US crude imports in August were 398 tb/d lower.

US monthly product imports were higher in August by 108 tb/d, or 6%, to average 1.8 mb/d. On a year-to-date comparison, product imports declined by 13%. Meanwhile, US product exports in August totaled 3.4 mb/d, up by 198 tb/d from one month ago. In an annual comparison, the figures reflect a drop of 227 tb/d or 6%. Thus, total US net imports were almost stable as seen in the previous month averaging 5.7 mb/d, though significantly lower than one year ago, down by 803 tb/d.

In June, the first and second suppliers to the US maintained their places from the previous month. Canada remained the premier crude supplier to the US, accounting for 39% of total US crude imports, with monthly volumes increasing by a slight 13 tb/d from one month earlier. Saudi Arabia maintained its position as second largest supplier to the US in June, though it exported less over the previous month by 207 tb/d or 17%. Mexico was third top supplier, accounting for 10% of total US crude imports with lower exports than the previous month by 24 tb/d or 10%.

Crude imports from OPEC Member Countries declined in June from one month before by 72 tb/d or 2%. Imports from OPEC Member Countries accounted for 43% of total US crude imports. Conversely, US product imports from OPEC Member Countries were up by 10 tb/d or 12% from one month before, though down by a slight 4 tb/d from the same month one year earlier. Canada and Russia maintained their positions as first and second product suppliers to the US, accounting for 28% and 14%, respectively.

However, both countries exported less petroleum products to the US in July, lower by 8% and 26%, respectively. Algeria came in as the third supplier to the US, increasing its exports by 56 tb/d or 8% from the previous month. Regionally, US crude imports from North America in June averaged 2.75 mb/d, exceeding imports from both Latin America and the Middle East, which came in second and third to stand at 1.96 mb/d and 1.94 mb/d, respectively. Imports from North America and the Middle East were higher than the same month one year earlier, while imports from Latin America declined compared with those of the previous June.

Looking at crude imports by PADD region, in PADD 1 the highest crude imports to the East Coast were sourced from Africa, standing at 261 tb/d, followed by North America, which averaged 248 tb/d. Crude imports from Africa were higher in June by 34 tb/d or 15% m-o-m, while imports from North America dropped by 50 tb/d. Imports by PADD 2 were mainly sourced from North America and averaged 2 mb/d, up by 194 tb/d from one month earlier. Additionally, the Middle East supplied a smaller quantity of 30 tb/d, down by a slight 8 tb/d from the previous month. PADD 3 mainly sourced its imports from Latin America and the Middle East, followed by North America, with small volumes also coming from Africa. Imports to the USGC were lower in June over the previous month from all suppliers. PADD 4 solely covered its requirements from North America, with an average of 195 tb/d in June, down 54 tb/d from a month earlier. On the US West Coast, imports from the Middle East rose by 48 tb/d to average 540 tb/d, allowing the region to maintain its position as the main source of crude imports to PADD 5.

Imports to PADD 5 from Latin America, North America and Asia were down, dropping by 17 tb/d, 41 tb/d and 22 tb/d, respectively.




Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.