Reply #26: Here are the API numbers [View All]

[UpInArms]

http://api-ec.api.org/media/index.cfm?objectid=05834D44-4071-48AD-ABB4FEFC7BB1478B&method=display_body&er=1&bitmask=001007000000000000

excerpt:

Crude oil stocks fell in May from April by 2.4 percent but were still up 7.7 percent from May 2004. Cumulatively, they increased nearly 40 million barrels since the beginning of the year, a rise of more than 13 percent. This was nearly double the average January-to-May build in crude oil inventories for the previous five years, API reported.

Gasoline inventories continued above 210 million barrels for the seventh consecutive month, ending at 212.5 million barrels, slightly below April but four percent above May a year ago, with a significantly greater increase for finished reformulated gasoline than for conventional gasoline.

Petroleum imports into the United States rose 3.3 percent in May compared with a year ago, to an average of 13.4 million barrels per day. Product imports were up 13 percent compared with the same month last year to 3.0 million barrels per day. Crude oil imports reached 10.4 million barrels per day, just short of the all-time high of 10.5 million barrels in June 2004.

May’s domestic crude oil production rose to nearly 5.5 million barrels per day, though still down 2.5 percent from a year ago. Lower-48 and Alaska output both rose, API said. The year-to-year decline in domestic crude production marks the 19th consecutive month this has occurred.

With unseasonably cold weather in May, distillate deliveries rose 7 percent compared with a year ago, the largest rise in more than two years. At 24 percent, the increase for high-sulfur distillate used in home heating was much greater than the two-percent increase for low-sulfur distillate used by diesel-powered vehicles on highways. Diesel prices averaged $2.16 for the month, about 9 percent higher than a year ago, partly reflecting the growing economy’s strong demand for transportation fuel, API reported.

Deliveries of residual fuel oil, used primarily for electric generation and vessel bunkering, were up 6.5 percent from a year ago, with an increase for the year to date of 4.4 percent, API said. Kerosine jet fuel deliveries rose sharply by 8.5 percent from a year ago.

Date: 20 Jun 2005