facebook
twitter
rss
account
search
search
 

API: U.S. importing less oil

Oct. 21, 2013 at 6:04 AM   |   Comments

WASHINGTON, Oct. 21 (UPI) -- United States September oil imports totaled about 10 million barrels per day, the lowest U.S. level for the month in 17 years, an industry trade group said.

The American Petroleum Institute said the September average for oil imports was 4.4 percent lower than during the same month last year.

The United States is consuming more of its own oil because of domestic production gains, officials said.

The U.S. Energy Department said it expects crude oil production to increase from an average 7.5 million barrels per day in 2013 to 8.5 million bpd next year.

The API report said September oil production was around 7.8 million bpd, its highest level for the month in 25 years.

Petroleum deliveries, a measure of demand, increased by 2.7 percent from September 2012 to average approximately 18.6 million bpd, the API said.

"Demand for petroleum products remains consistent with a gradually improving economy," API Chief Economist John Felmy said in a statement Friday.

Topics: John Felmy
© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
4
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
5
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
Trending News
Around the Web
x
Feedback