Energy
US Q1 Oil Production Down 370,000 Barrels a Day
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Crude oil production in the United States for the first three months of 2016 averaged 9.11 million barrels a day. That’s 370,000 barrels a day below the first-quarter 2015 average of 9.48 million barrels a day, but still a million barrels a day more than the first-quarter 2014 average.
From a high of more than 13.7 million barrels a day in 2005, imports now average about 9.8 million barrels a day for the first quarter of 2016.
And now that crude oil exports are once again legal, the average export volume for the first three months of 2016 rose to 4.67 million barrels a day, about 220,000 barrels a day more than in the first quarter of 2015. Average net imports of about 5.13 million barrels a day in the first quarter are 180,000 barrels a day higher than the first-quarter 2015 average of 4.95 million barrels.
The data were published on Tuesday in the U.S. Energy Information Administration’s (EIA) Monthly Energy Review for April.
Net refining inputs for the first quarter of the year averaged 18.2 million barrels a day, up about 60,000 barrels a day from the average of 18.14 barrels a day in the first quarter of 2015. Total motor gasoline produced in the first quarter averaged 9.6 million barrels a day, up about 120,000 barrels a day from the first-quarter 2015 average. Average distillate (including diesel fuel) production dropped by about 160,000 barrels a day, from 4.82 million in the first quarter of 2015 to 4.66 million in the first quarter of this year.
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