Analysis – November 2011
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Domestic sales of refined petroleum products in November 2011 totalled 8.7 million cubic metres, 31,881 cubic metres (-0.4%) less than the same month a year earlier.
The increase in petroleum product sales was led by major transportation fuels. Motor gasoline and diesel fuel oil sales combined accounted for about 72% of total product sales this month.
Motor gasoline sales were down 55,988 cubic metres (-1.5%) to 3.6 million cubic metres. Diesel fuel oil sales reached 2.6 million cubic metres, up 229,340 thousand cubic metres (+9.5%) from the same month a year earlier.
Refiners produced 9.0 million cubic metres of product in November 2011, down 344,660 cubic metres (-3.7%) from the same month a year earlier. The largest volumetric decrease in production was reported in motor gasoline, down 150,424 cubic metres (-4.4%).
The largest volumetric increase was in light fuel oil, which increased 195,597 cubic metres (+35.5%). This is a seasonal increase in the production of Light fuel oil, which, is mainly used as residential heating oil with the production increase coinciding with the onset of cold weather within Canada.
Crude oil receipts by refineries in November totalled 8.1 million cubic metres, down 192,281 cubic metres (-2.3%) from the same month a year earlier. Receipts of domestic crude oils totalled 4.5 million cubic metres, down 128,832 cubic metres (-2.8%).
This modest decrease in receipts of domestic crude oils in was mimicked by a 63,449 cubic metres (-1.8%) decrease in imported crude oils when compared to a year earlier. Imports totalled 3.6 million cubic metres and represented 44% of total crude oil requirements.
OPEC crude oils accounted for about 62% of crude oil imports this month. Algeria, Angola and Iraq were the largest OPEC suppliers. North Sea producers, Norway and the United Kingdom, supplied an additional 10% of total imports.
Crude oil and refined petroleum product inventories held by refiners and major distributors closed November 2011 at 11.5 million cubic metres, 327,221 cubic metres (-2.8%) below the same month a year earlier. Of this volume, refined petroleum product inventories totaled 8.4 million cubic metres and Crude oil inventories totaled 3.1 million cubic metres.
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