WASHINGTON, July 18, 2013 ─ Total U.S. petroleum deliveries (a measure of demand) decreased slightly by 1.0 percent from June 2012 to average just above 18.7 million barrels per day last month. This was the lowest June level in 16 years. For the second quarter, petroleum deliveries fell 0.3 percent against the same period last year.

“The latest data continues to reflect the uncertainty visible in the broader economy,” said API Chief Economist John Felmy. “Domestic crude production reached a twenty-two year June high last month, but demand remains soft.”

Gasoline demand moved down 1.9 percent from June 2012 to average 8.9 million barrels per day, the lowest June level in 12 years. In the second quarter overall, gasoline deliveries fell 2.0 percent. Demand also for fell in June for jet fuel (4.8 percent), “other oils” (0.9 percent), and residual fuel oil (14.7 percent). Residual fuel oil deliveries sank to 317 thousand barrels per day, the lowest June level on record. June distillate demand, however, increased by 5.5 percent.

Refinery gross inputs rose 0.6 percent above the prior year level to 16.1 million barrels per day – exceeding 16.0 million barrels per day for the first time since August 2011. Refined products were exported at an average rate of nearly 3.1 million barrels per day, a 1.2 percent decline from May. Gasoline production increased by 1.4 percent from May and 0.7 percent compared to June 2012 to nearly 9.3 million barrels per day. Distillate fuel production reached its highest June level at 4.8 million barrels per day, up 3.8 percent from last year.

Domestic crude production increased 15.3 percent in June and 15.6 percent in the second quarter, compared to 2012 figures. At 7.2 million barrels per day, crude production saw its highest June output in 22 years. According to the latest reports from Baker-Hughes, Inc., the number of oil and gas rigs in the U.S. fell from 1,767 in May to 1,761 in June.

Crude oil stocks ended the month at 378.8 million barrels, a drop of 2.5 percent from May and 1.9 percent from June 2012. Stocks of motor gasoline rose 8.1 percent from last year to 224.6 million barrels. Distillate fuel oil stocks ended at 120.8 million barrels, up 0.6 percent from year ago levels.

U.S. total imports fell below 10.0 million barrels per day for the third time this year to the lowest June level in 17 years. At an average of 9.8 million barrels per day, total imports were down 13.6 percent from the previous June and 9.5 percent for the second quarter. With increased crude production and record crude inventory levels, crude oil imports in June fell 15.2 percent from 2012 to a 19 year low of 7.7 million barrels per day. Imports of refined products dropped 7.6 percent from the previous June to average 2.1 million barrels per day but rose 1.2 percent for the second quarter.

The refinery utilization rate averaged 90.2 percent in June, up 2.9 percent from the prior month but down 2.6 percent from June 2012. API’s latest refinery operable capacity was 17.820 million barrels per day up from 17.230 million barrels per day this past June.

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.