Refined petroleum product exports rose 8.3% year-over-year last month, according to n the Energy Information Administration. Refinery gross inputs fell 2.5% and the refinery capacity utilization rate was essentially flat, decreasing by 0.9%.
Gasoline production set a June record last month, rising by 7.6% to 10.1 million barrels per day. Distillate fuel production grew 2.5% year-over-year, also setting a June record. Demand for gasoline grew 4% and jet fuel demand increased by 10.9%.
The American Petroleum Institute touted EIA’s data showing 1.5% growth in petroleum demand and noted that imports had reached 20-year lows.
“Increased U.S. production in recent years has provided an almost barrel-for-barrel counterweight to various disruptions in global supply from overseas,” said API Chief Economist John Felmy.
SEE ALSO: Chevron Richmond refinery upgrade OK'd by city planners
