U.S. PETROLEUM DELIVERIES UP TO 19.9 MBD

API - Total petroleum deliveries in November rose to 19.9 million barrels per day. This was the strongest November monthly demand since 2007. Cumulatively through the first 11 months of the 2017, total domestic petroleum deliveries rose by 0.9 percent, which exceeded demand growth in 2016 despite higher prices.

"With sustained strength in the U.S. and global economies, petroleum demand remained strong despite higher prices than last year," said API Chief Economist Dean Foreman. "Resilient supply continued to outpace demand in November, yet inventories experienced a record November drawdown. With U.S. crude prices trading at a discount to international ones—and the Brent-WTI crude price differential above $6.00 per barrel at the end of November—there was a greater pull for U.S. petroleum exports, which increased by 22.0 percent or about 1.2 million barrels per day compared with November 2016."

Motor gasoline deliveries were the strongest ever for a November. Consumer gasoline demand, as measured by total motor gasoline deliveries, rose by 0.6 percent year-over-year to 9.3 million barrels per day. Following an exceptionally strong October, gasoline deliveries fell by 0.6 percent for the month. However, the year-to-date trend remains positive, and deliveries climbed by 0.2 percent year to date through the first 11 months of the year compared with the same period in 2016 and are on track to set a new annual record above 9.3 million barrels per day for 2017.

U.S. crude oil production in November remained strong and above 9.0 million barrels per day for the 10th consecutive month. Domestic crude oil production increased 9.0 percent from the prior year and reached the highest November output in 47 years, since 1970, to average nearly 9.7 million barrels per day. Compared with the prior month and the prior year to date, crude oil production increased 2.8 percent and 4.0 percent, respectively. The month-ago increase likely reflected the impact of hurricane recovery and market stabilization. Domestic crude oil production in the lower 48 states increased by 2.9 percent from October and was 9.5 percent higher than November 2016 at more than 9.1 million barrels per day.

Natural gas liquids (NGL) production, a co-product of natural gas production, increased from the prior month and prior year. NGL production in November was up by 0.7 percent from October and by 3.4 percent from November 2016 to average 3.7 million barrels per day– the highest November volume and the fourth highest volume ever.

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Earlier:

2017, December, 11, 10:00:00 U.S. OIL INVENTORY DOWN BY 5.6 MBD US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.6 million bbl for the week ended Dec. 1 compared with the previous week. The latest estimate is 448.1 million bbl, which puts oil supplies in the upper range for this time of year, the US Energy Information Administration said.

2017, December, 11, 09:30:00 U.S. RIGS UP 2 TO 931 U.S. Rig Count is up 307 rigs from last year's count of 624, with oil rigs up 253, gas rigs up 55, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 11 rigs from last year's count of 230, with oil rigs down 5, gas rigs down 5, and miscellaneous rigs down 1 to 1.

2017, December, 8, 17:25:00 U.S. LNG UP EIA - In August 2017, total U.S. natural gas liquefaction capacity in the Lower 48 states increased to 2.8 billion cubic feet per day (Bcf/d) following the completion of the fourth liquefaction unit at the Sabine Pass liquefied natural gas (LNG) terminal in Louisiana. With increasing liquefaction capacity and utilization, U.S. LNG exports averaged 1.9 Bcf/d, and capacity utilization averaged 80% this year, based on data through November.

2017, November, 20, 09:10:00 U.S. PETROLEUM DEMAND UP TO 19.9 MBD API - Total petroleum deliveries in October moved up by 1.1 percent from October 2016 to average 19.9 million barrels per day. These were the highest October deliveries in 10 years, since 2007. Compared with September, total domestic petroleum deliveries, a measure of U.S. petroleum demand, decreased 1.8 percent. For year-to-date, total domestic petroleum deliveries moved up 1.2 percent compared to the same period last year.

2017, November, 14, 17:30:00 U.S. OIL + 80 TBD, GAS + 779 MCFD EIA - Crude oil production from the major US onshore regions is forecast to increase 80,000 b/d month-over-month in December to 6.174 million b/d, gas production to increase 779 million cubic feet/day.

2017, October, 30, 11:05:00 U.S. OIL LOSERS ExxonMobil and Chevron, the two largest US oil and gas groups, are continuing to lose money on oil and gas production in their home country, in spite of the rise in commodity prices since last year.

2017, October, 25, 12:20:00 U.S. ECONOMY & EMPLOYMENT 2016 - 2026 Changing demographics in the population will have far-reaching effects on the labor force, the economy, and employment over the 2016–26 decade. The overall labor force participation rate is projected to decline as older workers leave the labor force, constraining economic growth. The aging baby-boomer segment of the population will drive demand for healthcare services and related occupations.