OGJ Newsletter

08/02/2004
Market MovementUS crude imports hit record highUS imports of crude oil averaged a record 11.3 million bbl during the week ended July 23, marking "the first time that crude imports have exceeded 11 million b/d. Imports jumped by a fairly staggering 1.4 million b/d from the previous week's level," said Paul Horsnell, Barclays Capital Inc., London."There was a veritable armada of crude oil tankers discharging at US facilities," Horsnell said. What's more, he reported, "Gasoline imports [in the same week] were put at 1.26 million b/d, which is only 32,000 b/d below the all-time high set in April."The total volume of crude oil imports across the week was 10 million bbl higher than in t...
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