Supply disruptions and increasing demand boosted U.S. petroleum product imports in March (6/3/2021)

By January 1, 1970Market

Imports of petroleum product into the United States increased in March 2021 as a result of increased demand, temporary unplanned refinery outages in the U.S. Gulf Coast, and high U.S. petroleum product prices compared with prices in Europe. According to our May Petroleum Supply Monthly (PSM), which includes complete petroleum product import data through March 2021, U.S. petroleum product imports averaged 2.5 million barrels per day (b/d) in March, the highest average for any month since July 2019 . According to data from our Weekly Petroleum Supply Report (WPSR), this increase in petroleum product imports continued through April and May, likely as a result of increasing petroleum product demand, high U.S. petroleum product spot price spreads compared with prices in Europe, and the Colonial Pipeline outage. The four-week rolling average for U.S. petroleum product imports was 2.7 million b/d as of the week ending May 21, 2021. …Imports of petroleum product into the United States increased in March 2021 as a result of increased demand, temporary unplanned refinery outages in the U.S. Gulf Coast, and high U.S. petroleum product prices compared with prices in Europe. According to our May Petroleum Supply Monthly (PSM), which includes complete petroleum product import data through March 2021, U.S. petroleum product imports averaged 2.5 million barrels per day (b/d) in March, the highest average for any month since July 2019 . According to data from our Weekly Petroleum Supply Report (WPSR), this increase in petroleum product imports continued through April and May, likely as a result of increasing petroleum product demand, high U.S. petroleum product spot price spreads compared with prices in Europe, and the Colonial Pipeline outage. The four-week rolling average for U.S. petroleum product imports was 2.7 million b/d as of the week ending May 21, 2021. …EIA: This Week in Petroleum

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