Total petroleum deliveries in June moved up by 2.8% from June 2015 to average 20.1 million bpd. These were the highest June deliveries in nine years, since 2007. Compared with May, total domestic petroleum deliveries, a measure of US petroleum demand, increased 2.2%. For year-to-date, total domestic petroleum deliveries moved up 1.7% compared to the same period last year.
鈥淭he overall economy in the US has showed gains for the fifth time in the year,鈥� said Erica Bowman, API Chief Economist. 鈥淕asoline deliveries in June were up from the prior month, the prior year, and the prior year-to-date to reach the highest June level on record and the highest year-to-date ever recorded.鈥�
Total motor gasoline deliveries, a measure of consumer gasoline demand, moved up 2.7% from June 2015, to average over 9.6 million bpd. Compared with May 2016, total motor gasoline deliveries increased 2.1%.
Crude oil production was down from the prior month, the prior year, and the prior year-to-date to the lowest output level since May 2014. Crude oil production decreased 1.8% from May, and was down 7.4% from June 2015 to average 8.6 million bpd in June. This was the ninth consecutive monthly decline observed. For year-to-date, crude production was also down 5.4% compared with year-to-date 2015.
US total petroleum imports in June averaged just below 9.8 million bpd, up 2.0% from the prior month and up 2.4 % from the prior year, but remained the third lowest total petroleum imports for the month of June in 20 years, since 1996. For year-to-date, total petroleum imports were also up 4.3 % compared with year-to-date 2015. Crude oil imports increased 2.3% from June 2015 to 7.5 million bpd in June 2016. Compared with May 2016, crude oil imports were 1.7% lower.
Crude oil stocks ended in June at 520.9 million bbls 鈥� the highest June inventory level in 86 years, since 1930. Crude stocks were down 15.7 million bbls or 2.9% from the prior month, but were up 51.4 million bbls or 10.9% from the prior year. In June, motor gasoline stocks ended at 237.4 million bbls, down 1.4% from the prior month but up 7.4% from prior year. June鈥檚 motor gasoline stocks were the highest inventory level for the month of June for 32 years, since 1984.
Adapted from press release by