American Oil and Gas Reporter - August 2017 - 42

SpecialReport: Industry In Motion
both 2017 and 2018. Nonhydropower renewables are forecast to provide 9 percent
of electricity generation in 2017 and
nearly 10 percent in 2018.

Record: 17.7 MMbbl/d
Week ending May 26
2017 weekly values
Four-week rolling average

18
17

MMbbl/d

16
15

Previous five-year
range and average

14
13

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

After U.S. reﬁnery runs hit a record annual level of 16.5 MMbbl/d in 2016, EIA data show
gross inputs moved even higher in late May as summer driving season began, averaging
17.6 MMbbl/d for the three weeks from May 26 to June 9. For historical perspective, U.S.
reﬁnery runs have exceeded 17 MMbbl/d in only 24 weeks since 1990.

lower than at the end of October 2016.
EIA says it expects the share of total
U.S. utility-scale electricity generation
from natural gas to slide from 34 percent
in 2016 to 31 percent in both 2017 and

2018 as a result of higher anticipated
natural gas prices and more electric generation from renewable sources.
Coal's forecast generation share rises
from 30 percent in 2016 to 31 percent in

Oil Exports Ramping Up
U.S. natural gas exports are not alone
in hitting new highs. According to EIA,
U.S. crude exports reached 1.1 MMbbl/d
in February, which was the highest monthly level to date. In 2016, the agency says,
domestic crude oil and petroleum product
gross exports reached a record 5.2 MMbbl/d, with exports of crude oil, distillate
and gasoline all increasing at different
paces and for different reasons.
After restrictions on exporting domestic
crude oil were lifted in December 2015,
the United States exported an average of
520,000 bbl/d in 2016, the EIA reports,
with exports going to 26 countries. Canada
was the largest destination, accounting
for 58 percent (301,000 bbl/d) of total
oil exports in 2016.
EIA says the second-largest regional
destination was Asia, including China,
Korea, Singapore and Japan. European

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42 THE AMERICAN OIL & GAS REPORTER

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American Oil and Gas Reporter - August 2017

Table of Contents for the Digital Edition of American Oil and Gas Reporter - August 2017