WASHINGTON (MNI) – The following is the text of the summary of the
American Petroleum Institute’s monthly report on domestic petroleum
deliveries, gasoline deliveries and crude oil production for October
released Friday:

In October, with ongoing signs that the U.S. economy was recovering
slowly, petroleum deliveries experienced a slight increase from prior
year across key refined products like motor gasoline and distillate fuel
oils. Compared with last year, total domestic deliveries, an indicator
of demand, at 19.1 million barrels per day were 1.3 percent higher in
October and 1.7 percent higher on a year-to-date basis.

Total motor gasoline deliveries continued the modest recovery from
September into October 1.4 percent higher than prior month and 0.6
percent higher than prior year. Distillate deliveries were up 4.0
percent compared with October 2009, driven by robust demand in ultra-low
sulfur distillates (ULSD), the type used for on-highway fuel, indicating
a continued positive momentum in industrial activity. ULSD deliveries
were up 8.4 percent in October 2010 compared with October 2009. High
sulfur distillates and residual fuels experienced double digit declines
in October compared with last year. Jet fuel deliveries continued to
strengthen for the past four months, July through October, and jumped by
17.4 percent in October compared with last year, another indication of
economic uptick.

October’s domestic crude oil production, at 5.5 million barrels per
day, was slightly higher than September levels. Lower 48 production, at
4.86 million barrels per day, held relatively steady compared with
recent prior months and was up 0.2 percent from October 2009 levels.
Following the summer maintenance schedule, Alaskan crude oil production,
at 654 thousand barrels per day, was higher in October 2010 than
September, but finished lower than prior year levels by 0.6 percent.

Inputs at refineries were down slightly by 0.7 percent from a year
ago for the month, but industrial production of gasoline was up 1.9
percent from a year ago, and distillate output was up by 4.4 percent in
October 2010. Gasoline production for the month was the highest level on
record for any October. Jet fuel production continued to show double
digit percentage gains from last year, following the trend from the
prior two months, and was the highest level on record for any October in
a decade.

October’s crude oil and product imports, at 10.8 million barrels
per day, were lower than prior year by 1.2 percent, driven by big
declines in product imports. Total product imports, at 1.9 million
barrels per day in October, were 16.0 percent lower than last October
levels. Total motor gasoline imports rose by 6.0 percent this October
compared with the prior year while all other product imports saw huge
declines from last year. Crude oil imports, at 8.8 million barrels per
day, were higher by 2.8 percent compared with October 2009.

Crude oil inventory levels remained ample in October 2010. At 366
million barrels, crude oil inventories were 10.1 percent higher than
October 2009, and were at the highest level for 2010 and the highest for
any October since 1980. Total motor gasoline, jet fuel oils and residual
fuel oils indicated higher stock levels in October 2010 compared with
year-ago levels while distillate fuel oil stocks showed declines along
with ‘other oils’.

** Market News International Washington Bureau: 202-371-2121 **

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