In October, preliminary data showed that US crude oil imports dropped to average 7.29 mb/d, down by 168 tb/d from last month and down 185 tb/d from the same month a year earlier. Year-to-date, US crude imports in October were 387 tb/d lower. US product imports in October increased from last month’s level to average 1.5 mb/d. On an annual comparison, it dropped by 577 tb/d or 27%. Year-to-date, product imports declined by 16%.
In October, US product exports were 183 tb/d higher than a month ago, averaging 3.6 mb/d. On an annual comparison, product exports were 377 tb/d, or 10%, lower than a year before. As a result, US total net imports in October dropped to average 4.9 mb/d.
In August the top first and second crude suppliers to the US remained the same as a month earlier. Canada was the premier supplier to the US, accounting for 40% of total US crude imports. Its export levels to the US were 154 tb/d higher than the previous month. Saudi Arabia was still the second largest supplier to the US, though it reflected a drop of 337 tb/d in its exports to the US. Venezuela came in as the third supplier, accounting for 11% of total US crude imports. Its exports to the US, however, were 84 tb/d, or 6%, lower than the previous month.
Crude imports from OPEC Member Countries fell in August over the previous month, dropping by 362 tb/d, or 11%, though still accounting for 40% of all US crude imports. On the other hand, US product imports from OPEC Member Countries were up by 35 tb/d, or15%, over last month.
As to the product supplier share, Canada and Russia maintained their position as first and second suppliers to the US accounting for 26% and 20%, respectively. Canadian product exports to the US in August maintained the same level they had last year, while Russian volumes were up by 43 tb/d from a month ago. Algeria came in as the third supplier to the US with its product exports up by 38 tb/d over a month earlier. With regard to US crude imports by region, imports from North America averaged 2.9 mb/d in August and remained the premier supplier to the US as before, followed by Latin America, which exported 2.4 mb/d to the US in August. Imports from the Middle East and Africa declined from last month. The Middle East came in as the third region with an average of 1.7 mb/d, while US imports from Africa were down from last month to average 240 tb/d.
Looking at crude imports by PADD region, crude imports in PADD 1 were lower than almost all other regions. The highest crude imports to the US East Coast (USEC) continue to come from North America followed by Africa. These regions averaged 287 tb/d and 129 tb/d, respectively. Crude imports from North America were up by 17% from last month, while imports from Africa, the Middle East and Latin America declined by 20%, 12% and 23%, respectively. In August, PADD 1 did not import any crude from the Former Soviet Union (FSU). Imports from PADD 2 remain mostly sourced from North America, averaging 2 mb/d. PADD 2 imports from the Middle East averaged 26 tb/d unchanged from last month’s level. However, these were 79% lower than the same month a year before.
PADD 3 sourced their imports from Latin America and the Middle East. In August, imports from the Middle East were 22% lower than a month before, while imports from Latin America were 15% higher. Imports from both regions averaged 2.1 mb/d and 1.4 mb/d, respectively. PADD 4 continued to cover its imports from North America, with an average of 259 tb/d in August, reflecting a volume increase of 37 tb/d from a month ago. In the West Coast of the US, the largest imports originated from the Middle East, which exported 500 tb/d to PADD 5 in August. This was followed by Latin America and North America, which exported 256 tb/d and 223 tb/d, respectively.