Bill Bush | 202-682-8069 | bushw@api.org
WASHINGTON, May 13, 2009 - Total U.S. petroleum deliveries (a measure of demand) fell 3.6 percent in April from a year ago, reflecting continuing weakness in the economy, according to API’s Monthly Statistical Report. While gasoline deliveries increased slightly in April against a year ago, all other product deliveries fell, led by a sharp drop in distillate deliveries. Total product deliveries for the period January-April were the lowest since 1998.
“Gasoline deliveries were up, if only because year-ago levels were the lowest for any April since 2003,” said API statistics manager Ron Planting. “Distillate deliveries were a full 13 percent down from a year ago, as demand for diesel for freight transportation fell.”
At 12.25 million barrels per day, crude oil and product imports were lower than in any April since 2002. Crude oil imports for April slipped to 9.51 million barrels per day, down 4 percent from a year ago. Product imports, which had risen year to year in the first quarter, sharply reversed in April, declining nearly 18 percent from a year ago.
Domestic inventories of crude oil rose 11 million barrels in April, continuing an uninterrupted rise since last July that, through April, totaled nearly 80 million barrels. “The increase in inventories is the largest for a similar period in more than 80 years,” said Planting.
Among products, inventories of distillate fuel oil rose the most, ending the month at 145 million barrels, a level 39 million barrels or more than 37 percent above April a year ago, the largest such build since 1980. This was the first heating season since 1970 that distillate inventories ended April higher than they ended September.
Refinery utilization dipped from March to 81.7 percent - yet still about 16 percentage points higher in April than the utilization rate for all U.S. manufacturing.
April’s U.S. crude oil production at 5.29 million barrels per day again exceeded year-ago levels, as monthly production has every month so far this year.
Updated: June 1, 2009