In August, preliminary data shows that US crude oil imports increased to average 7.7 mb/d, up by 180 tb/d from last month and up by 193 tb/d from last year. On a yearto-date basis, US crude imports in August were 27 tb/d lower.
Monthly imports of US products were also higher in August by 150 tb/d, or 7%, to average 2.3 mb/d, the highest level since May 2013. On an annual comparison, imports went up by 435 tb/d or 24%. Year-to-date, product imports increased by 13%. As to product exports, in August the US had total product exports of 3.8 mb/d, slightly higher by 16 tb/d from a month ago. On an annual comparison, product exports saw a drop of 277 tb/d or 7%. As a result, US total net imports were up from the previous month by 360 tb/d, or 7%, to average 5.6 mb/d.
In June the top first and second suppliers to the US maintained the same order as seen last month. Canada remained the premier crude supplier to the US, accounting for 41% of total US crude imports, as the volume increased by 104 tb/d from a month earlier. Saudi Arabia remained the second largest supplier to the US, though with lower volumes of 131 tb/d, or 11%, from last month. Mexico was the third top supplier, accounting for 11% of total US crude imports and with higher exports to the US than a month earlier, up by 198 tb/d or 34%.
Crude imports from OPEC Member Countries declined in June from one month before by 190 tb/d or 7%. Imports from OPEC Member Countries accounted for 37% of total US crude imports. This decline came mainly as less crude volumes were imported from Saudi Arabia and Venezuela. On the other hand, US product imports from OPEC Member Countries also declined from last month by 66 tb/d or 25%. As to the product supplier share, Canada and Russia maintained their position as first and second suppliers to the US, accounting for 27% and 21%, respectively. However, while Canada exported less petroleum products to the US in June, Russian product exports to the US were up by 51%. India came in as the third supplier to the US, as it increased its exports by 67 tb/d, or 70%, from the previous month.
Regarding US crude imports by region, in June 2015 US crude imports from North America averaged 3 mb/d. Latin America and the Middle East, which came in as second and third regions, stood at 2.4 mb/d and 1.6 mb/d, respectively. Imports from North and Latin America were higher than the same month a year before, while imports from the Middle East and Africa declined from those of June 2014.
Looking at crude imports by PADDs, PADD-1 is seen as having the highest crude imports to the East Coast. This was sourced from North America, which stood at 222 tb/d followed by Latin America, which averaged 155 tb/d. Crude imports from Africa and the Middle East were lower in June by 32 tb/d and 34 tb/d, respectively. Imports from PADD-2 were mainly sourced from North America as they averaged 2 mb/d, up by 64 tb/d from a month ago. Additionally, the Middle East supplied a small quantity of 44 tb/d, which is almost stable from the previous month. PADD-3 mainly sourced their imports from Latin America and the Middle East, followed by North America and small volumes from Africa. Imports to the Gulf Coast were seen overall slightly lower in June from the previous month, with imports from the Middle East and North America showed declines, while imports from Africa and Latin America increased. PADD-4 imported their requirements from North America and averaged 280 tb/d in June, which is 29 tb/d higher from the previous month. In PADD-5, imports to the West Coast from the FSU and Asia were less, showing a drop of 23 tb/d and 21 tb/d, respectively. Imports from the Middle East were up by 74 tb/d to average 470 tb/d, and imports from Latin America increased by 45 tb/d to average 404 tb/d.