Petroleum facts at a glance –July 2016 release
1. Total petroleum products delivered to the domestic market in July 2016: 20,141,000 b/d (July 2015: 19,979,000 b/d). [API]
2. U.S. petroleum imports (crude & products) in July 2016: 10,453,000 barrels per day (July 2015: 9,511,000 b/d). [API]
3. Total imports in July 2016 as a percentage of total domestic petroleum deliveries: 51.9 percent (July 2015: 47.6 percent). [API]
4. Persian Gulf petroleum imports (net) in May 2016 as a percentage of total imports: 42.5 percent (May 2015: 37.5 percent). [DOE]
5. Average price for a barrel of OPEC crude oil for July 2016: $42.68 per barrel. (July 2015: $54.19 per barrel). [OPEC]
6. Average U.S. refiner acquisition cost in June 2016 for a barrel of crude oil: $45.72 per barrel. (June 2015: $60.12 per barrel) [DOE]
7. U.S. crude oil production in July 2016: 8,493,000 b/d (of which 474,000 b/d was Alaskan) (July 2015: 9,432,000 b/d). U.S. production of natural gas liquids in July 2016: 3,571,000 b/d (July 2015: 3,284,000 b/d). [API]
8. U.S. marketed natural gas production in May 2016: 78.1 billion cubic feet per day (May 2015: 78.3 billion cf/d). [DOE]
9. U.S. deliveries from primary storage of motor gasoline in July 2016: 9,668,000 b/d (July 2015: 9,438,000 b/d). [API]
10. U.S. deliveries from primary storage of distillate fuel oil (home heating and diesel) in July 2016: 3,758,000 b/d (July 2015: 3,877,000 b/d). [API]
11. Average active rotary drilling rigs in the U.S. in July 2016 was 450–fourth lowest count on record (alltime high of 4,530 announced November 1981; record low of 409 announced May 2016). [Baker Hughes Inc., Houston]
WASHINGTON - Total motor gasoline deliveries, a measure of consumer gasoline demand, moved up 2.4 percent from July 2015, to average nearly 9.7 million barrels per day. Compared with June 2016, total motor gasoline deliveries increased 0.3 percent. For year-to-date, total motor gasoline deliveries increased 2.5 percent compared with year-to-date 2015 to a record level just above 9.3 million barrels per day.
“Gasoline deliveries, a measure of consumer demand, hit their highest level on record in July,” said Erica Bowman, API chief economist. “With this indication of increased demand, it’s clear that consumers have continued to benefit from lower gasoline prices at the pump.”
Total petroleum deliveries in July moved up by 0.8 percent from July 2015 to average 20.1 million barrels per day. These were the highest July deliveries in nine years, since 2007. Compared with June, total domestic petroleum deliveries, a measure of U.S. petroleum demand, increased slightly by less than 0.1 percent. For year-to-date, total domestic petroleum deliveries moved up 1.1 percent compared to the same period last year.
Crude oil production was down from the prior month, the prior year, and the prior year-to-date as production continued to slow down and reached its lowest output level for any month since March 2014. Crude oil production decreased 1.9 percent from June, and was down 10.0 percent from July 2015 to average 8.5 million barrels per day in July.
U.S. total petroleum imports in July averaged just below 10.5 million barrels per day, up 6.8 percent from the prior month and up 9.9 percent from the prior year, but was the fourth lowest total petroleum imports for the month of July in 19 years, since 1997.
At 10.2 million barrels per day, gasoline production for the month of July reached its highest level for any month on record. This was up by 1.9 percent from the prior year, and up 1.3 percent from the prior month. For year-to-date, gasoline production increased by 1.9 percent compared to the same period last year and was the highest year-to-date on record.
Refinery gross inputs moved down 0.7 percent from July 2015, but remained the second highest inputs for the month of July, averaging 17.1 million barrels per day. Compared to June 2016, refinery gross inputs were up 1.9 percent.