Deliveries of petroleum products to the U.S. market surged during July to almost 19 million b/d, the American Petroleum Institute reported.
Deliveries of distillate increased a hefty 9%, jet fuel was up 6.1%, and gasoline was up 3.2% compared with July last year.
Products supplied to the U.S. market were up 4.3% at 18,999,000 b/d, the second highest monthly total since 1979. The record of 19,171,000 b/d was set last October.
API said refinery output continued at record levels, exceeding 15 million b/d for the third month in a row, and up 4% from July 1996. Refinery utilization was 96.5%.
Crude production was up slightly in the Lower 48, but dropped sharply on Alaska's North Slope. Overall, oil production was 6,298,000 b/d, or 0.6% less than a year ago. Natural gas liquids production was up 0.6% to 1,840,000 b/d.
U.S. oil imports slowed from rates that surpassed 10 million b/d in May and June.
Total imports of crude and petroleum products averaged 9,838,000 b/d in July. Gasoline imports dropped sharply.
API said July gasoline deliveries averaged 8,424,000 b/d, up 3.2% from a year ago. Reformulated gasoline deliveries reached a new high of 2,758,000 b/d, up 13.6%. Increases also were logged for distillate deliveries, up 9% at 3,294,000 b/d; kerosine jet fuel up 6.5% at 1,664,000 b/d; and residual fuel up 1.8% at 912,000 b/d.
Stocks of crude and products were down 1.4% from the end of June at 992,800,000 bbl but up 2.7% from a year ago. Gasoline inventories fell more than 12 million bbl while distillate inventories rose. Crude oil stocks fell 11 million bbl during the month.
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