Analysis – October

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Domestic sales of refined petroleum products in October 2009 totalled 7.9 million cubic metres, 1.2 million cubic metres (-13.0%) below the same month a year earlier. Motor gasoline and diesel fuel oil accounted for about 73% of sales. Motor gasoline sales increased slightly by 7.0 thousand cubic metres (+0.2%) from the same month a year earlier while diesel fuel sales fell 447.8 thousand cubic metres or (-16.7%).

Refineries produced 8.8 million cubic metres of product in October 2009, down 657.9 thousand cubic metres (-6.9%) below the same month a year earlier. All major petroleum products with the exception of the 'Other products' category and diesel fuel posted declines. The largest decreases were reported in light fuel oil down 262.4 thousand cubic metres (-32.3%), heavy fuel oil down 224.2 thousand cubic metres (-29.2%) and asphalt down 241.4 thousand cubic metres (-51.8%) from October 2008.

Crude oil receipts by Canadian refineries were down 934.2 thousand cubic metres to 7.9 million cubic metres, (-10.6%) below the same month a year earlier. Receipts of domestic crude oils totalled 4.4 million cubic metres, up 244.9 thousand cubic metres (+5.9%).

Refineries took 1.2 million cubic metres (-25.2%) less imported crude oils in October 2009 than the same month a year earlier. Imports totalled 3.5 million cubic metres representing about 44% of total crude oil refinery receipts. OPEC crude oils accounted for about 36.1% of crude oil imports. Algeria and Saudi Arabia were the largest OPEC suppliers. North Sea producers (Norway and the United Kingdom) supplied an additional 32.7% of total imports. Other non-OPEC suppliers included Russia, Mexico and the U.S.A.

Crude oil and refined petroleum product inventories held by refineries and major distributors closed October 2009 at 14.0 million cubic metres, slightly higher than the same month a year earlier. Product inventories totaled 10.7 million cubic metres, 23.5 thousand cubic metres (-0.2%) below October 2008. Crude oil inventories closed the month at 3.3 million cubic metres, 54.3 thousand cubic metres (-1.6%) below the same month a year earlier.