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 June
released Friday:

With sluggish economic recovery, June’s total petroleum deliveries
were 1.7 percent higher than deliveries in June 2009. The increase in
deliveries was driven by distillate fuels, jet fuel and other oils.
Total deliveries moderated upwards in the first half of 2010 by 1.4
percent compared with the first half of 2009. Total gasoline deliveries
were marginally lower by 0.5 percent in June 2010 compared with June
2009. For the month of June, distillate fuel deliveries and jet fuel
deliveries were up by 5.5 percent and 8.5 percent respectively compared
with June 2009. Low sulfur distillates showed double digit increases in
June compared with prior year.

Crude production in the Lower 48 states rose in June 2010 from the
prior year by 3.9 percent to 4.8 million barrels per day while Alaskan
production fell in June by 2.6 percent from the prior year to 556,000
barrels per day after North Slope operators reduced production in the
middle of June. Historically, the summer months have seen lower Alaskan
production than the rest of the year, due to the summer maintenance and
to the fact that some equipment operates less efficiently at the warmer
summer temperatures. The latest API data on well completions indicate
that second quarter completions were up 21.7 percent for gas wells and
58.8 percent for oil wells.

Total imports of crude oil and products fell in the first half of
2010 compared with the first half of last year by 4.6 percent. Total
imports for the month of June 2010, at 11.3 million barrels per day,
were 4.2 percent lower than June 2009 and 2.9 percent below total
imports in May.

Refinery operations continued to improve in June with increased
production in all products from the prior month with the exception of
residual fuel oil. Inputs to crude distillation units rose for the fifth
month in a row to 15.3 million barrels per day. This was higher than May
2010 by 0.6 percent and higher than June 2009 by 0.7 percent. For the
first half of 2010, inputs were higher by 1.3 percent this year compared
with last year. Operable Capacity of the refineries at 17.7 million
barrels a day in June remained flat from the prior month but was
marginally up from the June 2009. On a year-to-date basis, operable
capacity was down slightly by 0.3 percent at 17.6 million barrels a day.

Inventory levels of ultra-low sulfur diesel (ULSD), the variety
required for on-highway use, at 99.2 million barrels, increased by 5.3
percent in June from the prior month and increased by 5.6 percent from a
year ago. Low sulfur distillates, at 111.6 million barrels in June, saw
year-to-year drops but month-to-month gains, a trend seen in May as
well.

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

[TOPICS: M$U$$$,MAUDS$,MI$OI$]