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Oil Trade

70

OPEC Monthly Oil Market Report – October 2017

Graph 8 - 2: US exports of crude and petroleum products

As a result,

total US net imports declined by 1.4 mb/d to average 4 mb/d,

down from last year by

736 tb/d.

Table 8 - 1: US crude and product net imports, tb/d

In July, the top first and second suppliers to the US maintained their positions from last month. Canada

remained the

premier crude supplier

to the US, accounting for 41% of total US crude imports despite a

drop in monthly volumes of 129 tb/d. Saudi Arabia was again the second-largest supplier to the US in July,

though its exports also dropped by 220 tb/d. Iraq came as third-top supplier, accounting for 10% of total US

crude imports, after increasing its volumes by 186 tb/d, or 10%, from a month before.

Total crude imports

from

OPEC Member Countries

dropped in July from the previous month by 129 tb/d,

or 4%, accounting for 41% of total US crude imports. US

product imports

from OPEC Member Countries

went down by a slight 8 tb/d, or 1%, from one month ago. Canada and Russia maintained their positions as

first- and second-top product suppliers to the US, accounting for 26% and 14%, respectively. Canada

product exports to the US were lower in July by just 6 tb/d, while Russian volumes were down by 133 tb/d

from a month ago. Algeria came as the third-largest supplier to the US, increasing its volumes from one

month earlier by 38 tb/d.

Regarding

US crude imports by region

, North America averaged 3.2 mb/d in July, making it the top region

followed by Latin America, which stood at 2.1 mb/d in July. The Middle East came in third with an average of

1.8 mb/d. Imports from Africa declined from one month earlier to stand at 622 tb/d, while no imports from

Asia were registered in July.

0

200

400

600

800

1,000

1,200

1,400

0

1,000

2,000

3,000

4,000

5,000

6,000

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

Aug 17

Sep 17

tb/d

tb/d

Others*

Propane/propylene

Gasoline

Jet fuel/kerosene

Fuel oil

Crude (RHS)

Note: *Others: Contains natural gas liquids, liquefied refinery gases (LRG's), other liquids and all finished petroleum products except

gasoline, jet fuel/kerosene, fuel oil and propane/propylene.

Sources: US Energy Information Administration and OPEC Secretatiat.

Change

Jul 17

Aug 17

Sep 17 Sep 17/Aug 17

Crude oil

6,932

7,243

5,866

-1,377

Total products

-3,314

-1,837

-1,842

-5

Total crude and products

3,618

5,406

4,024

-1,382

Sources: US Energy Information Administration and OPEC Secretariat.