Hottest 2013 US crude oil production hit a 25 year

2022-08-05
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2013 US crude oil production hit a 25 year high

2013 US crude oil production hit a 25 year high

april 29, 2014

[China paint information] according to the world petroleum refining business digest weekly on March 10, 2014, the US Energy Information Administration (EIA) said that the US crude oil production maintained a rapid growth in 2013, with an increase of 50million tons/year (1million barrels/day) compared with 2012, reaching 373million tons/year (7.46 million barrels/day), The highest level in 25 years. The crude oil import volume hit a new low since 1987, only 255million tons/year (5.1 million barrels/day); Meanwhile, the export volume of refined oil reached 160million tons/year (3.3 million barrels/day), of which the proportion of distillate oil (diesel and aviation fuel) exceeded 80%

according to the analysis of Turner Mason, a refining consulting company, due to the decline of domestic gasoline demand and the continuous growth of tight oil production in the United States, the export volume of refined oil in the United States will further increase. The company predicts that by 2023, the demand for refined oil in the United States will decrease by 34million tons/year (700000 barrels/day) compared with that in 2013, and the United States will become the world's largest net exporter of refined oil. At that time, 13% of the U.S. gasoline output (1.1 million barrels/day to improve the accuracy of the experiment), 10% of the distillate oil output and 66% of the fuel oil output will be exported. Latin America will become the main export market, Europe will digest some diesel, and West Africa will import diesel and gasoline. In addition, Asia will also become the main target market for us refined oil exports in 2023

as the blending proportion of ethanol in gasoline will be increased, and the automobile fuel economy (CAFE) standard requires that the automobile fuel economy will be increased by 50% by 2021, the gasoline demand will be greatly reduced. In addition, the implementation of this standard will also lead to an increase in the proportion of diesel vehicles. It is estimated that by 2023, 7million tons/year (160000 barrels/day) of gasoline demand in the United States will be converted into diesel demand. Turner mas2012 is the golden age of the North American plastic machinery market. On company predicts that the gasoline demand in the United States will drop from 380million tons/year (8.7 million barrels/day) in 2013 to 328 million tons/year (7.5 million barrels/day) in 2023. If stricter Cafe standards are implemented after 2030, the impact on gasoline demand will be greater

at the same time, the company predicts that the demand for fuel oil in the United States will also drop from 16.5 million tons/year in 2013 (the importance of fixtures in the testing machine is 300000 barrels/day syncure XLPE: a two-step silane XLPE material) to 5.5 million tons/year (100000 barrels/day) in 2023, a decrease of more than 60%. The decline in fuel oil demand is related to the requirement of the International Maritime Organization (IMO) that the sulfur content of marine fuel be reduced to 0.5% by 2020. The United States has implemented more stringent standards, requiring that the sulfur content be reduced to 0.1% in 2015. As a result, the demand and output of fuel oil in the United States decreased significantly in 2013. Especially in December, the demand for fuel oil was only 218000 barrels/day, lower than half of the average value in recent five years. In 2013, the output of fuel oil in the United States was 25million tons/year (467000 barrels/day), the lowest since records began in 1936. Some analysts believe that the decrease in fuel oil production is also related to the increase in the amount of light crude oil processed by refineries in the United States

according to the forecast, the demand for petroleum products in the United States will decline by 2023, but the output will increase significantly. It is estimated that the increase will reach 92.5 million tons/year (1.85 million barrels/day), of which more than 80% (1.5 million barrels/day) will come from the development and utilization of shale oil and gas resources. In addition, the company predicts that by 2023, a hydrocracking unit of 7.5 million tons per year (150000 barrels per day) will be put into operation, the medium distillate oil production will increase by about 8million tons per year (160000 barrels per day), and the residue oil production will decrease by 7.15 million tons per year (130000 barrels per day)

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