US product imports down, Europe and Asia up

Reference is made to our overview of OECD North America, Europe and Pacific regional oil imports article in the INTERTANKO Weekly NEWS No. 17/02 of 26 April entitled “oil product imports by source – major areas”. This incorporated figures for the period 1990 to 2001, and can be viewed on INTERTANKO’s web site at: http://www.intertanko.com/artikkel.asp?id=3955

Since this article was written, IEA has published the figures for the first quarter of 2002. The figures exclude intra-regional trade. Major developments in regional oil product imports, in this period compared to 2001, are:

 

Gasoline imports

OECD North American imports decreased in 1st quarter 2002 to 0.6 mbd from 0.65 mbd in 2001. In particular the imports from Venezuela declined, whereas imports from Europe remained stable.

When looking at the weekly gasoline figures from EIA, gasoline imports during the first 29 weeks in the US were almost 19% above the level for the same period in 2001. The average gasoline imports in 2002 were some 0.79 mbd, up from 0.66 mbd for the same period in 2001, which again was up from 0.55 mbd in 2000. In weeks 20 and 22 this year gasoline imports were 1.1 mbd, according to EIA.

The long term development of the US gasoline imports until 20 July can be viewed at:
http://www.intertanko.com/pubupload/US Gasoline.xls

OECD Europe imports increased to 0.17 mbd from 0.14 mbd in 2001.

OECD Pacific gasoline imports increased to 0.06 mbd from 0.04 mbd in 2001.

 

Gasoil/diesel imports

OECD North American declined to 0.11 mbd from 0.19 mbd in 2001. Imports from the Former Soviet Union (FSU) and Venezuela declined the most.

OECD Europe gasoil/diesel imports increased substantially to 0.77 mbd from 0.57 mbd in 2001. This growth came from imports from the FSU and non-OECD Europe.

OECD Pacific imports remained at the same level as in 2001.

 

Jet/kerosene imports

OECD North American jet/kerosene imports declined to 0.09 mbd in the first quarter having averaged 0.14 mbd in 2001. Imports from the OECD Pacific area suffered the most.

OECD Europe imports declined to 0.20 mbd from 0.24 mbd in 2001. Imports from “other Middle East and Africa” declined the most.

OECD Pacific imports more than doubled reaching 0.15 mbd from 0.07 mbd in 2001. The increased imports came from Singapore and “non-OECD Asia”.

 

Residual fuel oil imports

OECD North American imports more than halved reaching 0.13 mbd in the first quarter of 2002 from 0.37 mbd in 2001. Imports declined from all areas.

OECD Europe residual fuel oil imports increased to 0.49 mbd from 0.40 mbd in 2001. The increase in imports came from OECD North America and Central/South America.

OECD Pacific imports remained flat at 0.07 mbd.

 

Total imports of the four oil product groups

OECD North American oil products imports were greatly reduced and reached 0.93 mbd in the first quarter of 2002 compared to 1.35 mbd in 2001. Imports from Venezuela and Algeria suffered the most.

OECD Europe imports had a healthy increase to 1.63 mbd from 1.35 mbd in 2001. Imports from OECD North America and non-OECD Europe increased. Possibly Europe has imported surplus American products.

OECD Pacific showed a moderate increase to 0.32 mbd in the first quarter of 2002 compared to 0.22 mbd in 2001. The increase in imports came from Saudi Arabia, Singapore and non-OECD Asia.

The oil product imports by source (tables and graphs) can be viewed on INTERTANKO’s web site at: http://www.intertanko.com/pubupload/OECD%20regional%20product%20imports%20by%20source.XLS