US Crude Production Down 2.5% in December

In its monthly energy report released Wednesday, the U.S. Energy Information Administration noted that crude oil production in the United States fell from 9.43 million barrels a day in December of 2014 to 9.19 million barrels a day in December of 2015. Over the course of the full year, however, crude production rose from a 2014 daily average of 8.71 million barrels to 9.41 million barrels in 2015.

Gasoline production decreased from a total of 9.90 million barrels a day in December 2014 to 9.61 million barrels in December 2015. Annual average daily gasoline production rose about 2% from 9.57 million barrels a day in 2014 to 9.76 million barrels in 2015. The annual average total for all refined products rose from 19.65 million barrels a day in 2014 to 19.89 million barrels a day in 2015, with most of the gain coming in gasoline production.

Average daily imports (including estimates for November and December of 2015) totaled 9.385 million barrels a day in 2015, up from an average of 9.241 million barrels in 2014. Exports averaged 4.176 million barrels a day in 2014 and rose to an estimated 4.647 million barrels in 2015. Net imports fell from a daily average of 5.065 million barrels in 2014 to an estimated daily average of 4.738 million barrels in 2015.
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In October 2015, the last month for which actual data is available, 13.87 million barrels per day of oil consumption is down to transportation demand. Of total consumption of 19.35 million barrels a day in October, transportation accounts for nearly 72% of crude oil consumption. That total includes jet fuel and diesel fuel, among a variety of fuel types.