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smith199

09/22/21 12:18 PM

#5504 RE: spec machine #5503

API Monthly Statistical Report ‘MSR’ released today, 9/22/2021. API Statistics Department & Office of the Chief Economist

For Data and Chart Details By Section See Link Below:

https://www.api.org/-/media/Files/News/2021/09/API_Monthly_Statistical_Report_Aug_2021.pdf

EXECUTIVE SUMMARY

In August, U.S. consumer sentiment experienced one of its sharpest drops on record since 1978, according to the University of Michigan’s consumer sentiment index. However, you would never know it from the strength of U.S. petroleum demand, which rose to 21.3 million barrels per day and exceeded its August 2019 level, which was among the strongest months in the past decade. Summer travel and freight transportation contributed positively to the monthly increase, but other oils – that is, intermediate products in refining and petrochemicals – led the rise (up 6.9% from July) and represented 27.9% of U.S. total petroleum demand.

By contrast, U.S. crude oil and natural gas liquids production fell in August despite the highest oil prices for the month since 2014. With demand that outpaced supply, crude oil inventories decreased to their lowest for the month since 2018 and to within 4.7% of the bottom of the five-year range. Additionally, the U.S. was a petroleum net importer in August and for five out of the past six months.

API’s Distillate Economic IndicatorTM suggested continued growth of U.S. industrial production and broader economic activity.

Other highlights:
– Summer driving sustained the highest gasoline demand in two years.
– Trucking drove the highest distillate demand since February 2020.
– Air travel demand propelled highest jet fuel demand since February 2020

Demand
• Strong U.S. petroleum demand (21.3 mb/d) pierced the top of the five-year range.
– Summer driving sustained the highest gasoline demand in two years.
– Trucking drove the highest distillate demand since February 2020.
– Air travel demand propelled highest jet fuel demand since February 2020.
– Solid marine shipping and residual fuel oil demand.
– Other oils demand of 5.9 mb/d a record for August.

Prices and Macroeconomy
• Highest gasoline prices for August since 2014.
• Leading indicators point towards industrial growth but consumer concerns.

Supply
• U.S. crude oil production and NGL production slipped in August.

International Trade
• U.S. petroleum net imports persisted in August.

Industry Operations
• Refinery inputs and capacity utilization edged down.

Inventories
•Lowest crude oil inventories for August since 2018.


PETROLEUM FACTS AT A GLANCE - SEPTEMBER 2021:

1. Total U.S. supply of crude oil, natural gas liquids and other liquids in August 2021: 17,603,000 b/d, up by 652,000 b/d compared with August 2020 (August 2020: 16,951,000 b/d) [API]

2. U.S. crude oil production for the month of August: 11,165,000 b/d (of which 409,000 b/d was Alaskan) (August 2020: 10,558,000 b/d). U.S. production of natural gas liquids in August 2021: 5,339,000 b/d (August 2020: 5,351,000 b/d). [API]

3. Total petroleum products delivered to the domestic market in August 2021: 21,282,000 b/d (August 2020: 18,558,000 b/d). [API]

4. Petroleum exports for the month of August: 8,274,000 b/d (August 2020: 8,550,000 b/d). [API]

5. U.S. petroleum trade balance expanded by 1,549,000 b/d to imply August 2021 net imports of 449,000 b/d (August 2020: 1,100,000 b/d net exports). [API]

https://www.api.org/-/media/Files/News/2021/09/Petroleum_Facts_at_a_Glance_August_2021.pdf


smith199

09/22/21 12:34 PM

#5505 RE: spec machine #5503

Thank you, look at your VGER go!

Soon we will hear from the DOI/BOEM regarding the “Proposed Notice of Sale Package” on GOM lease sale 257.

Once we get the 2021 Fall/Winter GOM 257 lease sale under our belt, it should be smoother seas for GSPE.








Mrs. Smith

smith199

09/22/21 3:42 PM

#5506 RE: spec machine #5503

BSEE Monitors Gulf of Mexico Oil and Gas Activities in Response to Hurricane Ida, Update 09/22/2021

NEW ORLEANS — Bureau of Safety and Environmental Enforcement (BSEE) activated its Hurricane Response Team as Hurricane Ida made its way through the Gulf. The Hurricane Response Team continues to monitor offshore oil and gas operators in the Gulf as they return to platforms and rigs after the storm. The team works with offshore operators and other state and federal agencies until operations return to normal.

Based on data from offshore operator reports submitted as of 11:30 CDT today, personnel are still evacuated from a total of 32 production platforms, 5.89 percent of the 560 manned platforms in the Gulf of Mexico. Production platforms are the structures located offshore from which oil and gas are produced. Unlike drilling rigs, which typically move from location to location, production facilities remain in the same location throughout a project’s duration.

All non-dynamically positions rigs are currently operating in the Gulf. Rigs can include several types of offshore drilling facilities including jackup rigs, platform rigs, all submersibles and moored semisubmersibles.

One dynamically positioned rig remains off location. This number represents 6.67 percent of the 15 DP rigs currently operating in the Gulf. Dynamically positioned rigs maintain their location while conducting well operations by using thrusters and propellers. These rigs are not moored to the seafloor; therefore, they can move off location in a relatively short time frame. Personnel remain on-board and return to the location once the storm has passed.

As part of the evacuation process, personnel activate the applicable shut-in procedure, which can frequently be accomplished from a remote location. This involves closing the sub-surface safety valves located below the surface of the ocean floor to prevent the release of oil or gas, effectively shutting in production from wells in the Gulf and protecting the marine and coastal environments. Shutting in oil and gas production is a standard procedure conducted by industry for safety and environmental reasons.

From operator reports, it is estimated that approximately 16.18 percent of the current oil production in the Gulf of Mexico is shut in. BSEE estimates that approximately 24.27 percent of the gas production in the Gulf of Mexico is shut in. The production percentages are calculated using information submitted by offshore operators in daily reports. Shut-in production information included in these reports is based on the amount of oil and gas the operator expected to produce that day. The shut-in production figures therefore are estimates, which BSEE compares to historical production reports to ensure the estimates follow a logical pattern.

Facilities are currently being inspected. Once all standard checks have been completed, production from undamaged facilities will be brought back online immediately. Facilities sustaining damage may take longer to bring back online.

smith199

09/22/21 3:53 PM

#5507 RE: spec machine #5503

Summary of Weekly Petroleum Data for the week ending September 17, 2021, Release date September 22, 2021

Full Report with Graphs/Tables: https://www.eia.gov/petroleum/supply/weekly/pdf/wpsrall.pdf

Data Overview: https://ir.eia.gov/wpsr/overview.pdf

HIGHLIGHTS

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.5 million barrels from the previous week. At 414.0 million barrels, U.S. crude oil inventories are about 8% below the five year average for this time of year. Total motor gasoline inventories increased by 3.5 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories decreased by 2.6 million barrels last week and are about 14% below the five year average for this time of year. Propane/propylene inventories decreased by 0.5 million barrels last week and are about 21% below the five year average for this time of year. Total commercial petroleum inventories decreased by 2.6 million barrels last week.

U.S. crude oil refinery inputs averaged 15.3 million barrels per day during the week ending September 17, 2021 which was 1.0 million barrels per day more than the previous week’s average. Refineries operated at 87.5% of their operable capacity last week. Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 4.5 million barrels per day.

U.S. crude oil imports averaged 6.5 million barrels per day last week, increased by 0.7 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 18.9% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.1 million barrels per day, and distillate fuel imports averaged 184,000 barrels per day.

Total products supplied over the last four-week period averaged 21.0 million barrels a day, up by 17.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.2 million barrels a day, up by 8.2%from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels a day over the past four weeks, up by 13.2% from the same period last year. Jet fuel product supplied was up 70.4% compared with the same four-week period last year.

The West Texas Intermediate crude oil price was $72.09 per barrel on September 17, 2021, $2.27 above last week’s price and $31.00 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.290 per gallon, $0.017 less than last week’s price but $1.002 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.208 per gallon, $0.068 above last week’s price and $1.037 over a year ago.

The national average retail regular gasoline price was $3.184 per gallon on September 20, 2021, $0.019 per gallon more than last week’s price and $1.016 over a year ago. The national average retail diesel fuel price was $3.385 per gallon, $0.013 above last week’s price and $0.981 over a year ago.