Petroleum deliveries in February are up 2 percent over February 2015, with nearly 19.8 million barrels delivered per day, the highest February volume in eight years, the American Petroleum Institute said late last week.
API Statistics Director Hazem Arafa said low gas prices brought demand up quite a bit. Gasoline deliveries averaged 9.1 million barrels a day in February, up 5.2 percent from February 2015, setting a February record.
However, February distillate deliveries fell 17 percent compared with year-ago volume, at almost 3.8 million barrels per day. February crude oil production also was down, falling 3.6 percent from a year ago, at 9.1 million barrels a day.
Three other records also were broken in February: crude oil and refined petroleum exports, crude oil stocks, and distillate fuel oil stocks. Crude oil and refined petroleum exports rose 6 percent from a year ago; crude oil stocks totaled 519.6 million barrels at the end of February, the highest level for that month since 1930; and distillate fuel oil stocks rose 32.2 percent to end the month at 162.8 million barrels, the highest February total in 35 years.
Motor gasoline stocks ended February at 252.4 million barrels, and jet fuel stocks increased by 10.2 percent.
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