US Oil Trade - July 2017

Source: OPEC 7/27/2017, Location: North America

June preliminary data shows that US crude oil imports dropped by 247 tb/d from the previous month to average 7.9 mb/d. However, annually, US crude imports were 332 tb/d higher than a year before.

US product imports went down by 189 tb/d, or 8%, to average 2 mb/d m-o-m, dropping y-o-y by 407 tb/d, or 17%.

US product exports fell by 185 tb/d or 4% from the previous month to average 4.6 mb/d.

In an annual comparison, figures showed a drop of 295 tb/d, or 6%. As a result, US total net imports averaged 4.8 mb/d, stable from the previous month’s level.

Canada remained the top supplier in April as seen earlier, accounting for 41% of total US crude imports, although its exports to the US were lower by 5%, or 153 tb/d, from the previous month. Saudi Arabia came in as second-largest supplier to the US with a share of 14% of total crude imports, while Venezuela was the third-largest supplier with a share of 10%. Imports from Saudi Arabia were down 19 tb/d, while those from Venezuela were up from the previous month by 111 tb/d.

Total crude imports from OPEC Member Countries rose in April from the previous month by 153 tb/d or 5%, as they accounted for 43% of total US crude imports. At the same time, US product imports from OPEC Member Countries dropped from a month before by 9 tb/d to stand at 227 tb/d, representing 10% of total products imported by the US. Canada and Russia maintained their positions as first - and second-largest suppliers to the US with shares of 25% and 13%, respectively. Imports from both countries were lower from the previous month by 21 tb/d and 79 tb/d, respectively. South Korea came in as third-largest product supplier to the US, up by 67 tb/d from the previous month’s imports.

In April, US crude imports from North America averaged 3.4 mb/d, maintaining the top spot as it had earlier. Latin America came in as the second source of imports to the US, averaging 2.2 mb/d in April, while the Middle East was the third-biggest importing region with an average of 2 mb/d. Imports from Africa increased from the previous month to stand at 533 tb/d, while no imports from Asia were registered.

As to crude imports by PADD, the highest crude imports to PADD 1 on the East Coast were sourced from Africa, with an average of 469 tb/d, followed by imports from the Middle East, which averaged 186 tb/d. Imports from North America were down by 96 tb/d to stand at 137 tb/d. PADD 2 imports were mostly imported from North America and averaged 2.3 mb/d in April, down by 42 tb/d from a month earlier. PADD 2 imported 42 tb/d from the Middle East. PADD 3 imports its largest volumes from Latin America and the Middle East. Imports from both regions rose from March by 98 tb/d and 48tb/d, respectively. PADD 4 imports came solely from North America and were down by 12 tb/d, averaging 274 tb/d. In PADD 5, the West Coast’s top importing region was the Middle East, followed by Latin America and North America, averaging 472 tb/d, 433 tb/d and 214 tb/d, respectively, in April.

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