Crude petroleum imported and exported, 1922–1923, by months—Continued [Thousands of barrels of 42 U. 8. gallons) STOCKS In this report stocks of crude petroleum are classified as follows: 1. Producers' stocks, or petroleum held on the producing properties (lease or "field" storage). Producers' stocks are reported to the Geological Survey annually. 2. Pipe-line and tank-farm stocks, or petroleum that has been transported from the producing properties but not delivered at refineries or at other points of consumption. For the States east of California such stocks are reported monthly to the Geological Survey as gross stocks, including the total contents of tanks and pipe lines, FIGURE 17.-Pipe-line and tank-farm stocks of crude petroleum contrasted with indicated days' supply, 1917-1923 FIGURE 18.—Daily average production of petroleum, production plus imports, and indicated deliveries to domestic consumers plus exports, by inonths, 1919–1923 and as net stocks, which are gross stocks minus sediment and water. The stocks reported for California are compiled by the Pacific coast office of the American Petroleum Institute and include producers', pipe-line, and tank-farm stocks (but not refinery stocks) of crude oil, residuum, and tops. 3. Refinery and other consumers' stocks, or petroleum that has been delivered at refineries and at other points of consumption. Stocks of crude petroleum held at refineries are compiled by the Bureau of Mines. Data concerning stocks held by other consumers are not available. Prior to 1923 refinery stocks of domestic and foreign crude oil were not differentiated in statistical statements, and there was duplication in the reports of refinery stocks and stocks of foreign petroleum held in the United States by importers. This duplication has been eliminated since December, 1922. On December 31, 1922, 11,103,000 barrels of foreign petroleum (crude and topped oil topped in Mexico) was held by importers at refineries in the United States. The deduction of this duplicated oil explains the jog in the curve shown in Figure 17. On December 31, 1918, shortly after the end of the war, stocks of crude petroleum, exclusive of consumers' stocks, had been reduced to 128,586,000 barrels, a supply sufficient for 113 days at the then current annual rate of deliveries to domestic consumers, plus exports. The previous high point was at the end of 1915, during the period of flush production of the Cushing field, when 194,185,000 barrels of crude oil was held in storage (exclusive of consumers' stocks), or enough for 241 days. Since 1918 stocks have increased greatly, and on December 31, 1923, producers', pipe-line, and tank-farm stocks of domestic crude petroleum and stocks of foreign petroleum held in the United States by importers elsewhere than at refineries amounted to 344,624,000 barrels. On account of the increased rate of consumption this record quantity was equivalent to an indicated supply for only 172 days. The fact that indicated days' supply, measured by the current monthly rate of deliveries to domestic consumers and exports, has not increased in proportion to stocks and in the later part of 1923 was less than during the first part of 1917, on account of the increase in the rate of consumption, is shown in Figure 17. A summarized statement of stocks of crude oil, exclusive of refining stocks, held in the United States on December 31 of each year from 1914 to 1923 is given in the table below. Stocks held on the last day of each month for 1923 are shown in the table on page 404. Stocks of crude oil and of refined products held at refineries on December 31 of each year from 1918 to 1923 are given on page 425. Stocks of crude petroleum held in the United States on December 31, 1914–1923 [Thousands of barrels of 42 U. S. gallons) 1914.... 1915. 1916.. 1917 1918. 1919. 1920. 1920 1921 1922 5,725 1,648 13, 564 60, 818 3,964 141, 550 141, 550 11, 328 74,230 7, 022 425 44, 588 146, 254 -47, 931 3, 850 2,088 194, 185 6, 600 77, 307 9, 315 745 39, 398 139, 303 40, 069 3,821 1,906 179, 372 3,560 99, 426 8, 385 515 32, 450 •150, 063 -9, 389 3, 616 1,029 159, 452 2, 367 79, 094 8,168 236 132, 043 126, 553 2,033 3,757 1,122 128, 586 4, 395 76, 712 12,575 164 130, 480 129, 205 •4, 089 2, 919 136, 213 3,673 1,286 3, 495 91, 696 12, 311 299 1 22, 240 135,000 3,586 3, 427 1,038 7, 442 146, 028 2,965 75, 690 11, 163 636 22, 240 117, 159 13, 586 6, 838 1,014 7, 442 128, 187 7,567 102, 401 17, 606 1, 635 135, 022 172, 083 •5, 139 13, 540 190, 762 8, 868 685 10, 140 152, 573 24, 781 1, 991 49, 375 248, 413 18, 428 9, 210 975 11,091 202, 904 23, 974 19, 704162, 162 330, 020 16, 165 273, 006 -9, 850 4,754 344, 624 196 241 200 152 113 117 99 87 130 165 172 1923 • 1919 to 1922 includes stocks of foreign oil held at refineries, which on Dec. 31, 1922, amounted to 11,103,000 barrels. Figures for Dec. 31, 1923, include only foreign petroleum held by importers elsewbere than at refineries. . For stocks of crude petroleum held at refineries see pp. 405 and 425. • Based on average daily rate for the year of deliveries to domestic consumers and exports. Not reported. • In 1916 and 1916 stocks held off producing properties by certain companies were classed as producers' stocks, but for subsequent years similar stocks are classed as tank-farm stocks. From Standard Oi Bulletin; include, in addition to gross pipe-line and tank-farm stocks, some unfinished products of topping plants that were turned back to pipe lines and also producers' stocks. • Exclusive of producers' stocks in California. As reported by revised method; see U. 8. Geol. Survey Mineral Resources, 1921, pt. 2, p. 284, 1923. • Pipe-line and tank-farm stocks reported net. Producers", pipe-line, and tank-farm stocks (but not refinery stocks) of crude oil, residuum, and tops reported by American Petroleum Institute. Stocks of crude petroleum held in the United States at end of each month in 1923 [Thousands of barrels of 42 U. S. gallons) Pro- ducers' stocks Dec. 31 vania, West Virginia, (Gross. 6, 232 6,360 6, 523 6,337 6,231 6, 313 6,426 6, 472 6,443 6, 611 6, 560 6, 606 6, 053 6,165 6, 262 6, 150 6, 333 6,284 6, 331 Kentucky. (Gross 3, 120 3,092 3, 202 3, 205 3, 220 (Net 3, 255 3, 135 3, 004 3, 170 3, 193 3, 144 3, 074 3, 007 3,041 3,063 3,011 2, 945 2,879 1,053 1, 065 1,082 1,097 1, 137 1, 166 1, 211 816 845 45 861 901 930 975 11, 176 11, 328 11, 532 11, 726 11, 942 11, 905 11, 528 152 11,091 156, 596 162, 147 165, 836 135, 576 166, 248 172, 811 136, 755 140, 258 177, 146 182, 928 145, 349 183, 052 150, 792 154, 464 155, 172 161, 687 165, 849 171, 836 24, 231 26, 492 171, 781 28, 287 Net 18, 276 28, 067 19, 267 29, 580 30, 487 7, 173 31, 762 32, 927 27, 135 28, 061 28, 917 29, 101 31, 123 24, 017 23, 942 Net 24, 865 24, 090 24, 314 23, 615 24, 637 23, 290 24, 950 25, 077 23, 547 23, 631 24, 355 23, 565 23, 942 24, 227 990 24, 602 24, 726 23, 974 132 10,080 12, 392 14, 217 6, 376 7, 214 15, 836 8, 201 17, 987 19, 718 984 225, 921 234, 659 243, 585 250, 099 253, 277 263, 704 271, 253 280, 459 282, 404 256, 933 9,850 265, 258 267, 858 59, 047 63, 240 60, 941 62, 668 63, 423 Foreign petroleum held in the United 62, 162 8, 240 States by importers elsewhere than at refineries: {Crude. 308 290 265 235 154 217 176 174 At Atlantic coast stations.- Topped •2, 790 2,805 170 230 318 324 2, 340 2, 433 2,551 2,604 2, 806 819 \Topped. 839 750 789 772 1, 059 495 565 3, 947 3,987 4, 003 4,004 4, 006 4, 188 4, 206 4,754 258, 197 260, 717 264, 899 270, 155 279, 272 290, 252 299, 368 307, 100 314, 493 323, 789 332, 887 334, 774 • Includes 3,167,000 barrels formerly classed as refinery stocks. • Producers', pipe-line, and tank-farm (but not refinery) stocks of crude oil, residuum, and tops (American Petroleum Institute). • Topped oil topped in Mexico. |
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