News

WASHINGTON, September 21, 2006 - API finds EPA’s decision on the daily limit for fine particles (PM2.5) in the final National Ambient Air Quality Standards (NAAQS) to be overly conservative and based on incomplete science.

SAN FRANCISCO, September 21, 2006 - In a speech to the Commonwealth Club of California, API President and CEO Red Cavaney stressed the need for policymakers to recognize the changing realities in the world of energy and shape policies that reflect those realities, rather than relying on discredited policies of the 1970s.

WASHINGTON, September 13, 2006 – U.S. oil demand slipped in August compared to year-earlier levels as lower deliveries of jet fuel and residual fuel oil offset rising gasoline and distillate deliveries, data compiled by the American Petroleum Institute show. In its Monthly Statistical Report covering August 2006, API noted that U.S. stockpiles of crude oil and refined products stood at their highest levels for end-August in several years, thanks to extraordinary high imports and near-record domestic refinery production.

WASHINGTON, August 17 — Total petroleum deliveries slipped 0.2 percent in July compared with one year earlier, with increases for gasoline and distillate fuel oil failing to offset declines for jet fuel, resid, and other products. Deliveries of low-sulfur distillate jumped nearly 13 percent, bring the increase for distillate fuel oil in total to over 9 percent despite a decline for high-sulfur distillate. Deliveries of gasoline rose a strong 1.7 percent. However, jet fuel deliveries fell 8.6 percent, and resid’s double-digit percentage declines continued.

WASHINGTON, August 27, 2006 – U.S. gasoline demand rose in July compared to year-earlier levels despite higher pump prices, data compiled by the American Petroleum Institute show.

WASHINGTON, July 28, 2006 - In a letter to members of Congress ahead of the August recess, API President and CEO Red Cavaney provided an update of the nation’s energy situation. Cavaney explained that supply and demand fundamentals have driven crude oil and refined product prices sharply higher and consumers have responded by limiting fuel usage when they could. He also noted the industry’s hurricane preparedness and reiterated the readiness of API member companies to work with lawmakers to develop “workable solutions” to the nation’s long-term energy challenges.

WASHINGTON, July 26 – High oil prices continue to stoke U.S. drilling activity as first-half 2006 data reveals nearly twice the level of activity recorded during the lows of the early to mid-1990s, the American Petroleum Institute reported.

WASHINGTON, July 19, 2006 - The impact of substantially higher retail prices has apparently permeated further into consumers’ travel behavior in recent months. The result has been a second-quarter decline in gasoline deliveries. ("Deliveries" is a measure of demand). Specifically, gasoline deliveries fell 0.4 percent for the second quarter compared with a year ago, contrasting with an increase for the first quarter of 0.5 percent. With flat-to-declining deliveries for distillate fuel oil and residual fuel oil, along with an only-modest rise for jet fuel, total petroleum deliveries for the second quarter shrank from year-ago levels by 1.3 percent.

WASHINGTON, July 19, 2006 - Record high crude oil prices led to lower U.S. refined product demand in the first half of 2006 though the nation imported more gasoline than ever before, the American Petroleum Institute reported today in its Monthly Statistical Report for June, which includes supply and demand statistics for the first six months of the year.

U.S. petroleum imports, including crude oil and refined petroleum products, in June 2006 were 13,906,000 barrels per day. Total imports in June as a percentage of total domestic petroleum deliveries, a key measure of demand, were 67.4 percent. U.S. crude oil production in June was 5,146,000 per day, of which 810,000 b/d was Alaskan.