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Oil report

UPDATE 1-US Oct oil use up 1.3 pct on improved economy-API

 * Rising oil, gasoline prices could affect future demand
 * U.S. oil production highest for Oct since 2003
 (Adds details of API oil demand report, table)
 WASHINGTON, Nov 19 (Reuters) - U.S. demand for crude oil
and petroleum products rose 1.3 percent in October from a year
earlier as continued economic recovery prompted higher fuel
consumption, the American Petroleum Institute said on Friday.
 October's total petroleum deliveries, excluding exports,
averaged 19.051 million barrels per day, up 248,000 bpd from a
year before, API's monthly supply and demand report showed.
 "The October data suggests continued economic recovery,
although still on a small scale," API Chief Economist John
Felmy said. "We will have to see how recent petroleum price
increases factor into consumer confidence and demand."
 U.S. crude oil prices this month have traded above $80 a
barrel and last week closed above $87 on several days, the
highest levels in two years. That has caused gasoline prices to
move closer to $3 a gallon and pushed diesel fuel and heating
oil past the $3 mark.
 Deliveries, a good indicator of demand, are calculated by
API to reflect petroleum products moved from refineries and
bulk storage to wholesale and retail suppliers.
 API's demand number for October is more than the U.S.
Energy Information Administration's estimate of 18.951 million
bpd for the month.
 U.S. gasoline demand rose a slight 0.6 percent in October
to 9.038 million bpd, and gasoline output climbed 1.9 percent
to a record high for the month, API said.
 Deliveries of distillate fuels, which include heating oil
and diesel fuel, rose 4 percent to 3.8 million bpd.
 Diesel fuel demand alone, which reflects truckers
transporting more goods in the stronger economy, jumped 8.4
percent, API said.
 Jet fuel demand in October soared 17.4 percent to 1.6
million bpd, but residual fuel use fell 36.7 percent to 313,000
bpd as industrial facilities switched to cheaper natural gas.
 On the supply side, U.S. crude oil production increased a
slight 0.1 percent to 5.508 million bpd, the highest output for
any October since 2003.
 Crude oil and petroleum product imports averaged 10.745
million bpd in October, down 1.2 percent from a year earlier.
 Total imports in October accounted for 56.4 percent of U.S.
oil demand, down from 57.9 percent a year earlier.
 The following summarizes key data from API's monthly
report:
                U.S. DELIVERIES, IMPORTS, PRODUCTION
                           (million bpd)
             Oct    Sept     Oct  Year Ago Jan-Oct  YTD Pct
            2010    2010    2009 Pct Change  2010   Change
DELIVERIES
 Gasoline     9.038   9.225   8.986     0.6     9.023     0.1
 RFG          2.943   2.965   3.101    -5.1     3.069    -0.3
 Kerosene/jet 1.600   1.586   1.362    17.4     1.445     3.2
 Distillate   3.800   3.666   3.654     4.0     3.735     3.4
 Residual     0.313   0.435   0.495   -36.7     0.535     4.7
 Other oils   4.346   4.208   4.281     1.5     4.288     2.3
 Deliveries  19.051  19.021  18.803     1.3    19.045     1.7
 Exports      2.236   2.181   2.223     0.6     2.234    10.2
 Total       21.287  21.202  20.950     1.6    21.279     2.8
IMPORTS
 Crude oil    8.802   9.784   8.566     2.8     9.339     3.0
 Oil products 1.943   2.220   2.312   -16.0     2.518    -8.1
 Total       10.745  12.004  10.878    -1.2    11.857     0.4
PRODUCTION
 Crude        5.508   5.393   5.501     0.1     5.470     2.3
 Gasoline     9.044   9.368   8.873     1.9      NA       NA
 Distillate   4.159   4.221   3.984     4.4      NA       NA
 Kerosene/jet 1.589   1.560   1.291    23.1      NA       NA
 Residual     0.443   0.451   0.672   -34.1      NA       NA
 (Reporting by Tom Doggett; Editing by Neil Stempleman and Dale
Hudson)






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