OPEC Monthly Oil Market Report – November 2017
showed a remarkable surge, as preliminary data indicates an increase of 544 tb/d to stand at
1.8 mb/d in October.
In October, US
were 1.06 mb/d higher than seen a month ago, to average 5.3 mb/d. Y-o-y,
product exports were up by 790 tb/d.
As a result,
US total net imports declined in October by 1.3 mb/d to average 2.7 mb/d
Table 8 - 1: US crude and product net imports, tb/d
In August the top first and second supplier to US maintained the same order as seen in the previous month.
Canada remained the
premier crude supplier
to the US, accounting for 44% of total US crude imports as it
increased its exports to the US by 207 tb/d from a month earlier. Saudi Arabia, the second largest supplier to
the US in August, saw its exports to the US drop by 56 tb/d. Venezuela came as third top supplier,
accounting for 7% of total US crude imports. However its exports to the US were down by 100 tb/d from a
Crude imports from OPEC Member Countries
dropped in August by 292 tb/d, or 9%, from the previous
month, accounting for 37% of total US crude oil imports. On the other hand, US product imports from
OPEC Member Countries were up by 74 tb/d, or 35%, from a month earlier.
As to the
share, Canada and Russia maintained their positions as first and second
supplier to the US, accounting for 24% and 17%, respectively. Canada’s product exports to the US in August
were down by 16 tb/d from a month ago, while Russia exported 63 tb/d more to the US. Algeria came as the
third supplier to the US, as its product exports were up by 34 tb/d from a month earlier.
US crude imports by region
, in August US crude imports from North America averaged 3.4 mb/d, to
remain the premier supplier to the US, followed by Latin America which exported 1.9 mb/d in August to the
US. Imports from the Middle East declined from last month, coming in as third region with an average of
1.9 mb/d. Imports from Africa increased from last month to average 855 tb/d.
Oct 17 Oct 17/Sep 17
Total crude and products
Sources: US Energy Information Administration and OPEC Secretariat.