Preliminary data for February shows that US crude oil imports declined by a slight 86 tb/d or 1% from the previous month to average 7.2 mb/d, the lowest level reached since October 2014. On an annual basis, this reflects a drop of 90 tb/d or 1% from one year earlier.
US product imports dropped by 126 tb/d or 6% m-o-m to average 2 mb/d. In a y-o-y comparison, they were down by 94 tb/d or 5%. A y-t-d comparison shows crude and product imports were both higher, by 293 tb/d and 202 tb/d, respectively. Meanwhile, US product exports in February registered a gain of 302 tb/d or 9% to average 3.7 mb/d over the previous month. In an annual comparison, the figures reflect an increase of 405 tb/d or 12%. As a result, US total net imports declined in February to average 5 mb/d, lower than both the previous month and year by 10% and 9%, respectively.
The top crude suppliers to the US in December were Canada, Saudi Arabia and Mexico. Canada maintained its position as premier supplier to the US, accounting for 46% of total US crude imports; it increased its exported volumes to the US in December by 408 tb/d m-o-m and 594 tb/d y-o-y. Saudi Arabia came in as secondlargest supplier, holding a share of 11% of total US crude imports, while Mexico was third-largest supplier with a share of 10%. Both Saudi Arabia and Mexico exported less crude to the US in February than one month earlier.
Crude imports from OPEC Member Countries dropped by 6% in December from one month earlier, mainly due to less imported volumes from Saudi Arabia and Iraq. Crude imports from OPEC Member Countries accounted for 34% of total US crude imports, a slight rise of 10 tb/d from the previous month.
Meanwhile, Canada and Russia maintained their positions as first- and second-top product suppliers to the US, while the UK came in third. All top product suppliers raised their export volumes to the US.
In December, US crude imports from North America averaged 3.3 mb/d, making the area the premier supplier to the US as seen earlier, followed by Latin America, which exported 2.2 mb/d. Imports from the Middle East were third, declining substantially from the same month one year earlier to average 1.3 mb/d. Imports from Africa were higher than the previous month and year, averaging 377 tb/d.
Crude imports by PADD were lower from most regions, with the exception of Africa and North America in PADD 1. North America remains the highest crude importer to the US East Coast, followed by Africa, averaging 347 tb/d and 145 tb/d, respectively. Imports to PADD 2 remained mainly sourced from North America, averaging 2.2 mb/d. PADD 2 imports from the Middle East averaged 32 tb/d, equal to the previous month. PADD 3 sourced its imports from Latin America, the Middle East and North America. In December, imports from the Middle East and Latin America were 15% lower each over one month earlier, averaging 1.8 mb/d and 800 tb/d, respectively. PADD 4 – as seen previously – secured its imports from North America, which averaged 279 tb/d in December, down by 20 tb/d from one month earlier. The largest imports to West Coast PADD 5 in December originated from the Middle East, which exported 400 tb/d, followed by Latin America and North America, which exported 309 tb/d and 205 tb/d, respectively.