Petroleum demand last month highest for September since 2007 (includes monthly statistical report)
WASHINGTON, October 20, 2017 – Total petroleum deliveries increased 2.4 percent from September 2016. These September deliveries were the highest September deliveries in a decade. For the third quarter 2017, total petroleum deliveries, a measure of U.S. petroleum demand, increased 2.1 percent from the same period last year to nearly 20.4 million barrels per day. For year to date 2017, total domestic petroleum deliveries increased 1.2 percent compared to the same period last year.
“Strong petroleum demand is good news for the overall economy which grew for the 100th consecutive month and economic activity in the manufacturing sector expanded in September,” said API Director of Statistics Hazem Arafa. “This positive economic growth is benefiting America businesses and workers.”
Gasoline deliveries in September were down from the prior month, the prior year, and the prior year to date, but were up from the prior year’s third quarter. Total motor gasoline deliveries, a measure of consumer gasoline demand, moved down 1.5 percent from August and down 0.8 percent from September 2016 to 9.4 million barrels per day–but remained the second highest September deliveries on record. Compared to third quarter 2016 and year to date 2016, gasoline deliveries increased 0.4 percent and decreased 0.3 percent. In September, distillate deliveries were up from the prior year, the prior third quarter, and the prior year to date, but were down from the prior month. Distillate deliveries increased 3.4 percent from September 2016, but were down 2.1 percent from August, to average just above 4.0 million barrels per day in September. These were the second highest September deliveries in 10 years, since 2007. For the third quarter 2017, distillate deliveries increased 3.7 percent compared to the third quarter of 2016. For year to date 2017, distillate deliveries were also up 2.3 percent compared with year to date 2016.
U.S. crude oil production remained robust and above 9.0 million barrels per day for the eighth consecutive month. September's crude production was up from the prior month, the prior third quarter, the prior year, and the prior year to date to average 9.5 million barrels per day. This September output was up 2.3 percent from August, up 11.3 percent from September 2016, up 6.6 percent from third quarter 2016, and up 2.9 percent from year to date 2016. September crude oil production was the highest September production in 47 years, since 1970, and the highest production level for any month in 29 months, since April 2015. For year to date 2017, crude oil production was also the second highest year to date in 44 years, since 1973.
U.S. total petroleum imports in September averaged 10.2 million barrels per day, up 5.2 percent from the prior month, but down 0.3 percent from the prior year. This was the lowest September imports in two years, since 2015. For third quarter 2017, total imports were down 4.2 percent compared with the same period last year. For year to date 2017, total imports were up 0.8 percent to average nearly 10.2 million barrels per day compared with year to date 2016. Meanwhile, crude oil imports decreased 7.2 percent from September 2016, averaging at 7.5 million barrels per day. Compared with August, crude oil imports remained almost flat. For third quarter 2017, crude imports were down 3.6 percent compared with the third quarter of 2016. For year to date 2017, crude imports were up 2.0 percent compared with year to date 2016.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 40 million Americans.
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