Table of Contents Table of Contents
Previous Page  76 / 103 Next Page
Information
Show Menu
Previous Page 76 / 103 Next Page
Page Background

Oil Trade

68

OPEC Monthly Oil Market Report – November 2017

Crude exports

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

product exports

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

month before.

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

product supplier

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.

As to

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.

Change

Aug 17

Sep 17

Oct 17 Oct 17/Sep 17

Crude oil

7,118

5,882

5,901

19

Total products

-2,710

-1,863

-3,236

-1,372

Total crude and products

4,408

4,019

2,666

-1,353

Sources: US Energy Information Administration and OPEC Secretariat.