According to data from the American Petroleum Institute, total US petroleum deliveries, a measure of petroleum demand, rose 1% in September from the same period last year, but were down 2.6% from August to average 19.6 million b/d. September deliveries were the highest deliveries for the month in 9 years.
For the third quarter, total petroleum deliveries decreased 0.1% from the same period last year. For year-to-date, total domestic petroleum deliveries remained flat compared with the same period last year, averaging 19.57 million b/d.
Gasoline deliveries in September were up from the prior year, the prior year’s third quarter, and the prior year-to-date, but were down from the prior month. Total motor gasoline deliveries, a measure of consumer gasoline demand, moved up 1.1% from September 2015 to nearly 9.4 million b/d, the highest September deliveries on record.
“Even as the official driving season ended on Labor Day, gasoline deliveries for the month of September were the highest on record,” said Erica Bowman, API chief economist. “It means the economy is moving in the right direction with more Americans working, driving, and shopping.”
US crude oil production declined 8.9% from year-ago levels. However, at an average of 8.6 million b/d, domestic crude production in September increased 0.8% from August, the first month-over-month increase in 6 months.
Compared with year-to-date 2015, domestic crude production declined 6.1%, averaging 8.87 million b/d. Compared with third-quarter 2015, crude production decreased 8.5% for third-quarter 2016. September crude production was the third highest level for the month and the second highest year-to-date level in 31 years.
US total petroleum imports in September averaged just fewer than 10 million b/d, down 7.1% from the prior month, but up 6.4% from the prior year. This was the third lowest for the month of September since 1996.
Third-quarter total imports were up 8.3% compared with the same period last year. Year-to-date total imports were up 6.3% to average 10.1 million b/d compared with year-to-date 2015. Meanwhile, crude imports increased 7.1% from September 2015, averaging 7.7 million b/d. Compared with August, crude imports decreased 7.7%. For the third quarter, crude imports were up 8.6% compared with third-quarter 2015. For year-to-date, crude imports were up 7.7% compared with year-to-date 2015.
Crude oil stocks, excluding lease stocks, ended in September averaging 468.6 million bbl. This was the highest September inventory level in 86 years. Crude stocks were down 3.3% from the prior month, but were up 9.2% from the prior year. Stocks of motor gasoline ended in September down 2.6% from last month, and unchanged from last year, to end at 225.2 million bbl. These were the highest stocks for the month in 26 years, but the lowest in 2016.