Distillate deliveries down in January

January deliveries of distillate fuel oil, which includes diesel fuel, fell 3.5 percent, and jet fuel deliveries slipped nearly 9 percent, according to the American Petroleum Institute (API).

However, residual fuel oil deliveries were up 6.2 percent from last January’s record low, according to API's Monthly Statistical Report. US refiners produced 6.7 percent more distillate in January compared with year-ago levels, also a record for the month.

"All told, weak demand across the board has given us the lowest deliveries for January in seven years," said Ron Planting, API statistics manager.

At the same time, US gasoline demand registered its first monthly year-on-year increase in more than 12 months. Gasoline demand grew 1.7 percent over year-ago levels, according to the report. Gasoline production in the United States rose 1.7 percent from year-ago levels as a record amount of gasoline was produced during the month of January.

United States crude oil production rose above 5.1 million barrels per day in January as a 1.8 percent increase in output from the lower 48 states offset a 1.1 percent decline in Alaskan crude oil production.

US refiners produced 6.7 percent more distillate in January compared with year-ago levels, also a record for the month.

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