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Sunday, December 17, 2017

US oil imports record high

US crude oil imports since mid-May have on average been some 10.5 mbd. US crude oil imports up to 4 June 2004 were 2.3 mbd above the level for the same period in 2002 and 0.6 mbd above the level last year.

US crude oil imports have throughout 2004 continuously been higher compared to the level for the same period in 2003.

Crude oil stocks are increasing and commercial stocks on 4 June were 6.2% higher than at the same time in 2003 and 2.4% higher than the average for the last 3 years. Strategic stocks also continue to increase, having grown 9.5% in one year, and are 11.7% higher than the average for the last 3 years.

US domestic crude oil production 1 Jan-4 June 2004 was 5.6 mbd or 3.2% below the level for the same period in 2003. Despite high oil prices the US does not appear to be maintaining production levels.

US gasoline imports have slightly declined to 0.84 mbd 1 Jan - 4 June 2004, 3.8% below the level for the same period in 2000. Gasoline stocks on 4 June, as the US driving season gets into full swing, were 1.6% lower than at the same time in 2003 and also 3.7% and 4.4% lower than at the same time in 2002 and 2001 respectively. The stocks were, however, 0.3% above the average level for the last 3 years.

US distillate imports 1 Jan - 4 June 2004 were 0.34 mbd or 9.4% higher than for the same period last year.