US Crude Oil Production Averaged 5.36 Million B/D In Oct- API
HOUSTON -(Dow Jones)- U.S. crude oil production for October averaged 5.36
million barrels a day, remaining at four-year highs, the American Petroleum
Institute said Wednesday.
Crude oil output from the lower 48 states increased nearly 15% from last
October, averaging 4.67 million barrels a day, in part because of the oil
industry's achievements in the U.S. Gulf of Mexico, the industry group said in a
statement.
Output from Alaska, where the largest U.S. oilfield is located, was 696,000
barrels a day, down 2.8% from October last year but up from this summer's lows
below 600,000 barrels a day.
Gasoline deliveries for October declined 0.5% from last year, their first drop
since May, the API said, because there was a surge in deliveries last October
following hurricanes Ike and Gustav. If supply interruptions due to these
hurricanes hadn't occurred, gasoline deliveries would have shown a growth of
about 0.5%, their fifth year-to-year increase in a row.
Distillate deliveries declined 11.4% from October last year. Even if the
hurricanes hadn't occurred, distillate deliveries would have decreased by 7%, as
demand for diesel-powered transportation is down in the wake of the economic
recession.
- By Angel Gonzalez, Dow Jones Newswires;713-547-9214;angel.gonzalez@
dowjones.com
(END) Dow Jones Newswires
11-18-091017ET
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