Against a year ago, total US petroleum deliveries fell 3.8% in September to 18.2 million bpd. Demand fell 2.4% compared to a year ago and 2.1% compared to August 2012. This is the second lowest September delivery figure for the month since 1996.
The demand for gasoline, distillate and residual fuel demand also declined in comparison to September 2011 figures. Gasoline fell by 2.0%. Yet, jet fuel demand was up 3.4% from September last year.
‘The September demand numbers indicate there’s still substantial weakness in the economy,’ said API chief economist John Felmy. ‘While manufacturing and employment have improved some, we’ve yet to see strong momentum developing.’
Total refinery inputs and production fell for gasoline, residual and kerosene jet fuel in September also. However, production was still greater than demand resulting in higher exports. Refinery utilisation also slipped in September to 86.9%.
In comparison to prior month, year and year to date, crude oil production was up in September hitting 6.295 million bpd. This is the highest September figure since 1997. Crude oil stocks were also up 9.7% compared to September 2011 and 1.5% from August 2012.
Adapted from press release by Claira Lloyd.