THE U.S. Energy DATABOOK A summary of national and global energy indicators JULY 1, 17 FEDERAL RESERVE BANK of KANSAS CITY SUMMARY OF CURRENT ENERGY CONDITIONS The number of total active drilling rigs in the United States rose 1 percent last month, and was 1. percent higher than last year. Crude oil production fell.3 percent in April, and natural gas production declined 3 percent in April. West Texas Intermediate (WTI) crude oil averaged $.1 per barrel for the week ending July 1th, while North Sea Brent averaged $7.1 per barrel for the same week. The Henry Hub natural gas spot price averaged $.9 per million Btu for the week ending July 1th. Compared to last month, U.S. crude oil and petroleum products imports declined 3.8 percent and exports increased.1 percent for the week ending July 1th. Globally, oil production edged up. percent in June, and global oil demand rose 1. percent in the second quarter of 17, resulting in a.3 percent decline in global oil stocks during the month of June. This databook provides current economic indicators to help monitor trends and allow comparison of past information. These indicators include: oil and natural gas prices; global petroleum production and demand; U.S. oil production and petroleum demand; U.S. crude oil stocks; OECD petroleum stocks; U.S. oil imports; U.S. oil exports; oil and gas drilling rig counts; and U.S. natural gas production. These indicators can be found on the following pages. The Federal Reserve Bank of Kansas City's headquarters is located at 1 Memorial Drive in the heart of Kansas City, Missouri. The Federal Reserve Bank of Kansas City serves the Tenth Federal Reserve District, which includes Colorado, Kansas, western Missouri, Nebraska, northern New Mexico, Oklahoma and Wyoming. There are three branches across the Tenth Federal Reserve District located in Denver, Oklahoma City, and Omaha. 1
CRUDE OIL & NATURAL GAS SPOT PRICES Weekly data through July 1, 17 Weekly Oil Spot Prices, per barrel Refiner Acquisition Cost of Oil*, per barrel $1 $1 $1 $1 $8 $ $ $ West Texas Intermediate Brent $ 11 1 13 1 1 1 17 $1 $1 $8 $ U.S. $ PADD 1 PADD $ PADD 3 $ PADD 11 1 13 1 1 1 17 $8 $7 $ $ $ $3 $ $1 Weekly Natural Gas Spot Prices, per mmbtu Gasoline Prices by PADD, per gallon $. Henry Hub $. $ 11 1 13 1 1 1 17 $3. $3. $. $. East Coast (PADD 1) $1. Midwest (PADD ) $1. Gulf Coast (PADD 3) $. Rocky Mountain (PADD ) 11 1 13 1 1 1 17 Weekly Spot Prices, Current Weekly Spot Prices 7/1/17 Ago Ago Ago West Texas Intermediate $.1 $. $.1 -$. -$.9 -$.79 Brent $7.1 -$1.7 $.9 -$.9 $1. -$79. Henry Hub $.9 $.1 -$.7 -$.31 $.1 -$3.9 Gasoline Monthly Spot Prices, Current 1 Week 1 Month Months 1 Year Ago Peak (11-17) 1 Month Months 1 Year Geographic Area Jun-17 Ago Ago Ago Peak (11-17) East Coast (PADD 1) $.9 -$. $.1 $. -$1.1 Midwest (PADD ) $.3 -$. $. -$.1 -$1.9 Gulf Coast (PADD 3) $.11 -$. $.8 $. -$1. Rocky Mountain (PADD ) $.1 $. $.8 $.9 -$1.37 West Coast (PADD ) $.88 -$. $.31 $.1 -$1.3 *The cost of crude oil, including transportation and other fees paid by the refiner.
11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 U.S. Energy Databook GLOBAL PETROLEUM PRODUCTION June 17 Global Petroleum Production Global Petroleum Production, million barrels per day Regional Share of Production 1 1 9 9 8 8 7 11 1 13 1 1 1 17 Top Crude Oil Producers, million barrels per day 3 OPEC Top OPEC Producers Top Non-OPEC Producers 3 1 Saudi Arabia Iraq Russia United States 1 8 1 1 Equatorial Guinea Ecuador Libya Nigeria Venezuela UAE Iraq Gabon Qatar Algeria Angola Kuwait Iran Saudi Arabia Iran UAE OPEC Middle East* North America United States Europe FSU & East Europe Asia-Pacific Africa *Excludes OPEC China 33.1% 1.1%.9% 9.%.% 1.% 9.% 1.9% Canada Kuwait Venezuela Brazil Mexico 3
11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 U.S. Energy Databook GLOBAL PETROLEUM CONSUMPTION Second Quarter 17 Global Petroleum Consumption 1 98 9 9 9 9 88 8 Global Consumption, million barrels per day 8 8 11 1 13 1 1 1 17 1 98 9 9 9 9 88 8 Regional Share of Consumption OECD Non-OECD Asia and Oceania North America United States Europe China Middle East Central and South America FSU & Eastern Europe 7.%.% 3.%.7%.3% 1.% 13.1% 9.3% 7.3%.8% Top Petroleum Consumers, million barrels per day 1 1 3 1 United States Russia China Brazil India Canada Japan Mexico 1 1 3 1
U.S. ACTIVE DRILLING RIG COUNT July 17 Weekly Active Oil & Gas Drilling Rig Counts U.S. Active Drilling Rigs by Trajectory 1,8 Horizontal 1, Vertical Directional 1, 1, 1, 8 11 1 13 1 1 1 17 1,8 1, 1, 1, 1, 8 Top Five States for Drilling Activity (Total Active Rigs) North Dakota New Mexico Louisiana Oklahoma Texas 11 1 13 1 1 1 17 1,8 1, 1, 1, 1, 8 U.S. Active Drilling Rigs by Type 11 1 13 1 1 1 17 Rig Count By Type Oil Natural Gas Current 1 Month 3 Months 1 Year Rig Type Week Ago Ago Ago Oil 7 78 88 371 Gas 18 183 17 88 Misc 3 Total 9 91 87 Rig Count By Type, Current 1 Month 3 Months 1 Year Rig Type Week Ago Ago Ago Oil -.8% 11.% 1.9% Gas - 1.% 11.% 111.% Misc - - -1.% -1.% Total - 1.% 1.9% 1.% Source: Baker Hughes/Haver Analytics
11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 U.S. Energy Databook U.S. CRUDE OIL PRODUCTION April 17 U.S. Crude Oil Production Total U.S. Production, million barrels per day 11 1 9 8 7 11 1 13 1 1 1 17 11 1 9 8 7 Texas North Dakota Alaska California New Mexico Oklahoma Colorado Wyoming Louisiana Kansas Share of Production 11.%.8%.3%.9%.7% 3.%.3% 1.% 1.1% 3.8% Top Producing States, thousand barrels per day, Texas North Dakota Alaska California New Mexico 3,, 1, 1, 7 Oklahoma Colorado Wyoming Louisiana Kansas, 3,, 1, 1, 7
1,, 3, 3,,, 1, 1, United States Thousand Barrels per Day 9, 8, 7,,,, 11 1 13 1 1 1 17 Texas 11 1 13 1 1 1 17 1, 9, 8, 7,,,,, 3, 3,,, 1, 1, U.S. CRUDE OIL PRODUCTION Data through April 17 United States Apr-17 9,83 Month Ago 9,17 -.3% 3 Months Ago 8,88.% Months Ago 8,78 3.% 1 Year Ago 8,97 1.% Texas Apr-17 3,3 Month Ago 3,31 1.1% 3 Months Ago 3,.% Months Ago 3,17.% 1 Year Ago 3, 3.1% Share of U.S. Production 3.8% 1, 1, 1, 8 North Dakota 11 1 13 1 1 1 17 Alaska 11 1 13 1 1 1 17 1, 1, 1, 8 North Dakota Apr-17 1,38 Month Ago 1,1.% 3 Months Ago 97.% Months Ago 1, -.% 1 Year Ago 1, -.% Share of U.S. Production 11.% Alaska Apr-17 Month Ago -.1% 3 Months Ago 1 1.8% Months Ago 9.% 1 Year Ago 89 7.% Share of U.S. Production.8% 7
California Thousand Barrels per Day 11 1 13 1 1 1 17 New Mexico 3 1 11 1 13 1 1 1 17 Oklahoma 3 3 1 11 1 13 1 1 1 17 Colorado 3 3 1 1 11 1 13 1 1 1 17 3 1 3 3 1 3 3 1 1 U.S. CRUDE OIL PRODUCTION Data through April 17 California Apr-17 81 Month Ago 8 -.% 3 Months Ago 8 -.% Months Ago -.1% 1 Year Ago 3-7.9% Share of U.S. Production.3% New Mexico Apr-17 8 Month Ago 39.1% 3 Months Ago 1 7.% Months Ago 9 9.7% 1 Year Ago 1 9.3% Share of U.S. Production.9% Oklahoma Apr-17 Month Ago 8 -.% 3 Months Ago 399.9% Months Ago 13 3.3% 1 Year Ago.9% Share of U.S. Production.7% Colorado Apr-17 31 Month Ago 97.1% 3 Months Ago 9 7.% Months Ago 31 -.3% 1 Year Ago 31 -.% Share of U.S. Production 3.% 8
Wyoming 3 Thousand Barrels per Day 1 1 11 1 13 1 1 1 17 Louisiana 17 1 1 11 1 13 1 1 1 17 1 Kansas 1 1 1 8 11 1 13 1 1 1 17 3 1 1 17 1 1 1 1 1 1 8 U.S. CRUDE OIL PRODUCTION Data through April 17 Wyoming Apr-17 Month Ago.7% 3 Months Ago 187 1.1% Months Ago 19.8% 1 Year Ago -.% Share of U.S. Production.3% Louisiana Apr-17 1 Month Ago 13 -.% 3 Months Ago 1 1.9% Months Ago 1 -.8% 1 Year Ago 1-13.% Share of U.S. Production 1.% Kansas Apr-17 99 Month Ago 1-1.8% 3 Months Ago 9.1% Months Ago 97 1.3% 1 Year Ago 1-3.7% Share of U.S. Production 1.1% 9
CRUDE OIL & PETROLEUM PRODUCT STOCKS July 17 U.S. Crude Oil Stocks U.S. Oil Stocks, million barrels* Cushing, OK Oil Stocks, million barrels 7 8 7 7 37 3 3 7 1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec year range year avg 17 Stocks year range year avg 17 Stocks U.S. Oil Days of Supply, days 3 3 1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec year range year avg 17 Days Crude Oil Stocks 1 Week 1 Year Ago Ago U.S. -1.%.% Cushing, OK.% -1.% Days of Supply -1.% -.% East Coast (PADD 1) -7.8% -9.% Midwest (PADD ) -1.7% 1.% Gulf Coast (PADD 3) -.3% 1.% Rocky Mountain (PADD ) -.7%.9% West Coast (PADD ).% -.% *Stocks include those domestic and Customs-cleared foreign stocks held at, or in transit to, refineries and bulk terminals, and stocks in pipelines. June 17 OECD Commercial Petroleum Inventory OECD Commercial Petroleum Inventory, million barrels 3, 3,,8,,, Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec year range year avg 17 Stocks Petroleum Stocks Million Barrels Current Month 3, 1 Month Ago 3,1 -.3% 3 Months Ago 3,9 -.1% Months Ago,97 1.3% 1 Year Ago 3,37-1.1% 1
U.S. PETROLEUM PRODUCTS CONSUMPTION July 17 Weekly U.S. Demand for Petroleum Products -Week Averages All Petroleum Products, million barrels per day Residual Fuel Oil Jet Kerosene Residual Fuel Oil Other Products Motor Gasoline Share of Total Consumption 1 1 Motor Gasoline Distillate Fuel Oil 19.9%.% 1 1 Jet Kerosene 8.7% Residual Fuel Oil Other Products.3%.% 11 1 13 1 1 1 17 U.S. Consumption by Product & Percent U.S. Consumption by Product, thousand barrels per day Current 1 Month 3 Months Months 1 Year Month Ago Ago Ago Ago All Products,7,17 19,7 19,38,3 Motor Gasoline 9, 9, 9,317 8,71 9,73 Distillate Fuel Oil,13 3,933,83 3,13 3,7 Jet Kerosene 1,811 1,77 1,7 1,39 1,71 Residual Fuel Oil 77 33 8 38 8 Other Products,73,73,18,,888 U.S. Consumption by Product, Current 1 Month 3 Months Months 1 Year Month Ago Ago Ago Ago All Products -.9%.% 7.3%.1% Motor Gasoline - 1.% 3.% 1.% -.8% Distillate Fuel Oil -.% -3.% 17.7% 9.9% Jet Kerosene -.% 8.3% 1.%.% Residual Fuel Oil -.% 8.% 3.9% 19.% Other Products -.% 1.1% -1.8% -.% 11
U.S. IMPORTS OF CRUDE OIL & PETROLEUM PRODUCTS July 17 U.S. Imports of Crude Oil & Petroleum Products -Week Averages Imports, million barrels per day Share of Total Imports 1 Total Products Total Crude Oil 1 1 1 8 11 1 13 1 1 1 17 1 1 1 1 8 Total Crude Oil Total Products Total Motor Gasoline Kerosene-Type Jet Fuel Distillate Fuel Oil Residual Fuel Oil Propane/Propylene Other Oils.1%.% 1.% 1.3% 1.% 1.% 8.8% 79.9% U.S. Imports by Product* Current 1 Month 3 Months Months 1 Year Week Ago Ago Ago Ago Total Crude Oil 7,81 8,7 7,91 8,19 7,973 Total Products 1,97,17 1,998,7,9 Total Motor Gasoline 7 73 1 7 8 Kerosene-Type Jet Fuel 139 13 13 13 11 Distillate Fuel Oil 1 1 133 18 83 Residual Fuel Oil 139 191 18 11 39 Propane/Propylene 1 11 1 78 Other Oils 83 89 83 83 1, Total Imports 9,81 1, 9,939 1,7 1,3 U.S. Imports by Product, Current 1 Month 3 Months Months 1 Year Week Ago Ago Ago Ago Total Crude Oil - -.7% -1.3% -.3% -1.7% Total Products - -8.1% -1.% -.9% -19.7% Total Motor Gasoline - -18.3% -1.3%.% -8.3% Kerosene-Type Jet Fuel - 3.% -1.7% 3.7% -13.7% Distillate Fuel Oil -.% -.% -.3%.% Residual Fuel Oil - -7.% 8.% -1.% -1.8% Propane/Propylene - -11.3% -18.% -9.% 3.8% Other Oils - -3.% 3.%.% -17.% Total Imports - -3.8% -1.% -.% -.9% *Totals may not sum due to component rounding 1
U.S. EXPORTS OF CRUDE OIL & PETROLEUM July 17 U.S. Exports of Crude Oil & Petroleum Products -Week Averages Exports, million barrels per day Share of Total Exports Total Products Total Crude Oil Total Crude Oil Total Products 13.% 8.% 3 3 Total Motor Gasoline Kerosene-Type Jet Fuel Distillate Fuel Oil Residual Fuel Oil 11.% 3.8% 1.7%.% 1 1 Propane/Propylene 11.9% 11 1 13 1 1 1 17 Other Oils 3.% U.S. Exports by Product* Current 1 Month 3 Months Months 1 Year Week Ago Ago Ago Ago Total Crude Oil 73 77 71 8 98 Total Products,733,8,89,171 3,89 Total Motor Gasoline 9 39 1,1 39 Kerosene-Type Jet Fuel 7 131 188 1 138 Distillate Fuel Oil 1,187 1,173 1,117 1,1 1,3 Residual Fuel Oil 3 9 8 3 33 Propane/Propylene 9 8 9 1,7 1 Other Oils 1,71 1,77 1,78 1,7 1, Total Exports,8,3,,87,9 U.S. Exports by Product, Current 1 Month 3 Months Months 1 Year Week Ago Ago Ago Ago Total Crude Oil - -.% 3.7% 7.3% 3.1% Total Products - 3.3% -3.3% -8.% 1.% Total Motor Gasoline -.9% -.3% -38.3% 8.% Kerosene-Type Jet Fuel - 8.% 1.1% 33.%.% Distillate Fuel Oil - 1.%.3%.1% -9.% Residual Fuel Oil -.9% 18.%.9% -13.3% Propane/Propylene - -.3% -31.% -39.% -1.8% Other Oils -.8%.7% 13.8% 9.% Total Exports -.1% -.% -.% 1.7% *Totals may not sum due to rounding 13
U.S. NET IMPORTS OF CRUDE OIL & PETROLEUM July 17 U.S. Net Imports of Crude Oil & Petroleum Products -Week Averages, Crude Oil Net Imports 1, 1, 8,,,, Crude Oil Exports Crude Oil Imports Crude Oil Net Imports 1, 1, 8,,,, Crude Oil Net Imports 7/1/17 7,1 Month Ago 7,8 -.% 3 Months Ago 7,31-1.7% Months Ago 7,9 -.% 1 Year Ago 7,37-3.% 11 1 13 1 1 1 17 8,,,, Products Net Imports Products Exports Products Imports Products Net Imports 8,,,, Products Net Imports 7/1/17 -,79 Month Ago -,33-3 Months Ago -,898 - Months Ago -3,9-1 Year Ago -1,3 - -, -, -, 11 1 13 1 1 1 17 -, 1, 1, 1, 8,,,, Total Net Imports Total Exports Total Imports Total Net Imports 11 1 13 1 1 1 17 1, 1, 1, 8,,,, Total Net Imports 7/1/17,37 Month Ago,89-1.% 3 Months Ago,333.3% Months Ago,1-1.% 1 Year Ago,9 -.8% 1
11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 11 1 13 1 1 1 17 U.S. Energy Databook NATURAL GAS PRODUCTION & STOCKS U.S. Natural Gas Production & Stocks April 17 Production Total U.S. Production, Billion Cubic Feet (BCF) 3,,, 1, 1, 11 1 13 1 1 1 17 July 17 Stocks U.S. Natural Gas Stocks, Billion Cubic Feet (BCF).. 3. 3... 1. 1.. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec year range year average 17 Stocks U.S. Natural Gas, Billion Cubic Feet (BCF) Current 1 Month 3 Months Months 1 Year Period* Ago Ago Ago Ago U.S. Production,3,37,3,3,3 U.S. Stocks,973,77,11,917 3,77 U.S. Natural Gas, Current 1 Month 3 Months Months 1 Year Period* Ago Ago Ago Ago U.S. Production - -3.% -1.7% -.% -1.% U.S. Stocks - 7.3%.% 1.9% -9.3% Texas Pennsylvania Oklahoma Louisiana Colorado Wyoming Ohio West Virginia New Mexico Arkansas Share of Production 8.%.8%.9%.%.7%.3%.%.% 3.7% 19.% Top Producing States, Billion Cubic Feet (BCF) 1, 7 3 1 Texas Pennsylvania Oklahoma Louisiana Colorado Wyoming Ohio West Virginia New Mexico Arkansas 1, 7 3 1 *U.S. production is monthly data & stocks are weekly data 1
NOTES Definitions: West Texas Intermediate: A crude oil produced in Texas and southern Oklahoma which serves as a reference or "marker" for pricing a number of other crude streams and is traded in the domestic spot market at Cushing, Oklahoma. Brent: A blended crude oil produced in the North Sea region which serves as a reference or "marker" for pricing a number of other international crude streams. Petroleum products include unfinished oils, liquefied petroleum gases, pentanes plus, aviation gasoline, motor gasoline, naphtha-type jet fuel, kerosene-type jet fuel, kerosene, distillate fuel oil, residual fuel oil, petrochemical feedstocks, special naphthas, lubricants, waxes, petroleum coke, asphalt, road oil, still gas, and miscellaneous products. Refined petroleum products include but are not limited to gasolines, kerosene, distillates (including No. fuel oil), liquefied petroleum gas, asphalt, lubricating oils, diesel fuels, and residual fuels. Notes: Page : Petroleum Administration for Defense Districts (PADD) are geographic aggregations of the States and the District of Columbia into five districts by the Petroleum Administration for Defense in 19. These districts were originally defined during World War II for purposes of administering oil allocation. For more information, visit: http://www.eia.gov/petroleum/supply/monthly/pdf/append.pdf Page 3 : For OPEC countries & the U.S., only crude oil production data is used. For non-opec countries (excluding the U.S.) total petroleum production data is used. Total petroleum production includes includes production of crude oil (including lease condensates), natural gas plant liquids, biofuels, other liquids, and refinery processing gains. Page : The active rig count is the number of rigs actively exploring for or developing oil or natural gas. Rig counts provide an indicator of new drilling activity and potential for expanded crude oil or natural gas production. Pages 1: Crude oil stocks are stocks of crude oil and lease condensate held at refineries, in pipelines, at pipeline terminals, and on leases. Crude oil stocks for Cushing include domestic and foreign crude oil stocks held in tank farms in Lincoln, Payne, and Creek counties in Oklahoma. Cushing, Oklahoma, is the designated delivery point for NYMEX crude oil futures contracts. Notes : Page 11: Petroleum Consumption approximately represents consumption of petroleum products because it measures the disappearance of these products primary sources, i.e., refineries, natural gas-processing plants, blending plants, pipelines, and bulk terminals. Data Revisions Most data are revised periodically to correct for errors and incorporate additional information as it becomes available. Data shown in this report are subject to change. Regional Economic Analysis Sign up to receive The U.S. Energy Databook and other publications each month via email using the link below: http://www.kansascityfed.org/ealert/ For more analysis on the U.S. energy industry, read the latest release of The Tenth District Energy Survey. https://www.kansascityfed.org/research/indicatorsdata/energy Additional Resources Available Agricultural Surveys Banker Resources Manufacturing Survey Economic Indicators Energy Survey Economic Research Regional Economic Analysis Educational Tools Speeches Visit: Days of supply are calculated by taking the current stock level and dividing by product supplied (used as an estimate of demand) averaged over the most recent four-week period. For crude oil, refinery inputs of crude oil are used as a proxy for demand. 1