By the OGJ Online Staff
HOUSTON, Feb. 14�The American Petroleum Institute, Washington, DC, said Wednesday that US product imports in January were at the highest level in more than a decade.
It said 2.923 million b/d was imported, up 40% from January 2000, although that month was lower than usual.
API said imported crude and products met nearly 60% of US energy needs in January. Crude imports were 8.658 million b/d, up 12.2% from a year ago.
Imports of distillate fuel, used mostly for heating oil and diesel, were nearly 500,000 b/d. That was 2.5 times higher than January 2000 and almost a record.
Resid imports soared to 470,000 b/d, up 114% from a year ago. Kerosine jet fuel imports jumped 52% to 177,000 b/d. Total gasoline imports, including blending components, were up 19%.
API said US oil production rose 2.7% to 5.889 million b/d in January, compared to the same month a year ago. Alaska production continued to decline, averaging 987,000 b/d, although maintenance and mechanical problems were a factor. Lower 48 production was 4% higher at 4.9 million b/d.
The refinery utilization rate slowed to 90.7% in January but was still higher than the 85.7% of a year ago. Petroleum inputs to refineries were 15.014 million b/d, up 6.1% from a year ago and the highest for any January in more than 20 years.
January's total oil deliveries, a measure of US demand, climbed 4.4%. But API said because last year's demand figure is expected to be revised, and given the economic downturn, last month's demand probably was only 1% or 2% higher than a year ago.
Distillate deliveries were up 7.2% at 4 million b/d. API said distillate demand has not been so robust since 1981.
It said kerosine jet fuel deliveries rose nearly 4% to 1.6 million b/d and gasoline 4.5% to 7.8 million b/d, compared to a year ago.
Crude oil stocks were stable at 285.4 million bbl. Gasoline inventories dropped 2% to 204 million bbl. Jet fuel stocks increased 1.7% to 44.1 million bbl, distillates 5.8% to 112.9 million bbl, and total petroleum stocks 3.8% to 944.9 million bbl.
