U.S. Gulf Coast oil imports down

Regional crude oil stockpiles up 21 percent year-on-year.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   Updated Feb. 10, 2015 at 10:00 AM

WASHINGTON, Feb. 10 (UPI) -- Crude oil imports into the southern United States have gone from around 1.3 million barrels per day to a trickle, U.S. government data show Tuesday.

A crude oil import tracking tool produced by the Energy Information Administration show a steady decrease in crude oil imports to the southern U.S. coast.

"Historically, Gulf Coast refineries have imported as much as 1.3 million barrels per day of light-sweet crude oil, more than any other region of the country," EIA said in a Tuesday brief. "Beginning in 2010, improvements to the crude distribution system and sustained increases in production in the region have significantly reduced light crude imports."

Gulf Coast imports come from Latin American and Canadian producers, as well as Saudi Arabia, Kuwait and Iraq. EIA data from last week show commercial crude oil stocks in the Gulf Coast, known formally as the Petroleum Administration for Defense District 3, up 21 percent year-on-year for the week ending Jan. 30.

Net crude oil imports for the week ending Jan. 30 were relatively unchanged year-on-year, though Gulf Coast refineries took on 7.5 percent less than the same week in 2014.

For exports to the U.S. market, Canada, the No. 1 oil supplier, saw an increase of 16 percent year-on-year, while No. 2 exporter Saudi Arabia saw a 36 percent decline.

Total U.S. oil production for the week ending Jan. 30 averaged 9.1 million bpd, a 13.8 percent increase year-on-year.

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