Analysis – May 2010
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Domestic sales of refined petroleum products in May totalled 8.8 million cubic metres, 872.9 thousand cubic metres (+11.0) higher than May 2009. Sales were up in all major product categories.
January to May sales of petroleum products were up 7.5% compared to the same period last year.
Sales of motor gasoline in May totalled 3.8 million cubic metres, 226.5 thousand cubic metres (+6.3%) higher than the same month a year earlier. Sales reached the highest level since August 2007.
About 89% of motor gasoline was sold at the retail pump in May. Regular unleaded gasoline accounted for 90.3% of these sales, 6.5% higher than May 2009.
Diesel fuel oil sales totalled 2.4 million cubic metres, 288.5 thousand cubic metres (+13.4) above the same month a year earlier.
Refinery production in May totalled 9.6 million cubic metres, 245.4 thousand cubic metres (+2.6%) above May 2009.
Deliveries of crude oils to domestic refineries totalled 8.3 million cubic metres, 56.4 thousand cubic metres (+0.7%) above the same month a year earlier. A 5.7% decrease the delivery of domestic crude oils was offset by a (+8.4%) rise in imports.
Crude oil imports represented 48.7% of domestic refinery requirements. OPEC sources led by Algeria, Saudi Arabia and Iraq accounted for about 42.4% of this requirement. Norway and the United Kingdom supplied and additional 21.6% of foreign supply.
Crude oil and refined petroleum product inventories held by refineries and major distributors closed May at 10.8 million cubic metres.
Petroleum product inventories totaled 7.8 million cubic metres.
All major product categories posted a draw on inventories led by the 'Other' products category - mainly composed of unfinished products; and the motor gasoline and diesel fuel oil categories.
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