By JOHN P. TRETBAR
Eagle Media
The government says total US petroleum exports set a record last year for the fifth year in a row, at 6.6 million barrels per day. EIA says that's fueled mainly by diesel and jet fuel exports. Mexico and Brazil were the top customers last year.
Last week, crude-oil exports retreated after a spike the week before. EIA reports 3.5 million barrels a day in US crude exports for the week through April 18th. That's a drop of 30 percent from the week before. Crude imports averaged just under 5.6 million barrels a day, down seven percent from a week earlier. The four week average is down nearly seven percent from a year ago.
The Energy Department took delivery on another half million barrels of crude at the Strategic Petroleum Reserve. Strategic stockpiles are up nearly 32 million barrels or nine percent from a year ago. Commercial crude stockpiles increased slightly last week to rise over 443 million barrels as of April 18th. Stockpiles are about five percent below the five year average for this time of year.
US crude production drops again to remain below 13.5 million barrels a day for a second week in a row, after topping that average in each of the prior six weeks. The four week average and cumulative year-to-date average each drop below 13.5 million.
The government says total US petroleum exports set a record last year for the fifth year in a row, at 6.6 million barrels per day. EIA says that's fueled mainly by diesel and jet fuel exports. Mexico and Brazil were the top customers last year.
Last week, crude-oil exports retreated after a spike the week before. EIA reports 3.5 million barrels a day in US crude exports for the week through April 18th. That's a drop of 30 percent from the week before. Crude imports averaged just under 5.6 million barrels a day, down seven percent from a week earlier. The four week average is down nearly seven percent from a year ago.
So far this year, well-completions remains the sole metric in the Kansas oil patch that improves on what we reported last year. Kansas adds 23 well completions this week, notching 412 so far this year, compared to 378 a year ago.
Independent Oil and Gas Service asserts that, overall, drilling activity in Kansas is down 33 percent from last year, which marked the low point for crude production in the state. This week's Kansas Rig Count is down more than 12 percent from last week. It's up 23 percent from last month, but down 30 percent from last year. Regulators have okayed 230 new drilling permits so far this year, compared to 283 a year ago.