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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,

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FIGURE 17.-Pipe-line and tank-farm stocks of crude petroleum contrasted with indicated days' supply,

1917-1923

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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.

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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)

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1914.... 1915. 1916.. 1917 1918. 1919. 1920. 1920 1921 1922

5,725 1,648 13, 564 60, 818

3,964
170 65, 661

141, 550
5, 742 2,919

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)
Pipe-line and tank-farm stocks

Pro-
Jan.

ducers'
Feb. Mar Apr. May June July Aug. Sept. Oct. Nov.

stocks

Dec. 31
Domestic petroleum, by fields of origin:
East of California:
Appalachian:
New York, Pennsyl.

vania, West Virginia, (Gross. 6, 232 6,360 6, 523 6,337 6,231 6, 313
eastern and central Net ..

6,426
5, 972 6, 102

6, 472 6,443
6, 264

6, 611
6, 079

6, 560
5, 973

6, 606
Ohio

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
2, 979 3,081 3,083

3, 144 3, 074 3, 007
3,096 3, 128 3,005
Gross. 989

3,041
Lima-Indiana..

3,063
988 1, 011

3,011
1,016

2, 945
1,036

2,879

1,053
(Net.

1, 065
732

1,082 1,097
729

1, 137
763

1, 166
768
788

1, 211
806

816
Illinois-Southwestern Gross.

845
10, 720

45

861
10, 722

901

930
10, 939 11, 041 11, 212

975

11, 176
Indiana .---
-(Net

11, 328
10, 218

11, 532
10, 220 10, 436

11, 726 11, 942
10, 580

11, 905
Mid-Continent:

11, 528
10, 751 10, 714 10, 867 11, 072 11, 290 11, 494 11, 459

152

11,091
Oklahoma, Kansas, cen- [Gross. 146, 868 146, 488 147, 029 151, 425
tral and north Texas.. Net ..

156, 596 162, 147
136, 183

165, 836 135, 576

166, 248 172, 811 136, 755 140, 258

177, 146 182, 928 145, 349

183, 052

150, 792
North Louisiana and JGross.

154, 464
18, 968

155, 172
19, 994 21,327

161, 687 165, 849
22, 015

171, 836

24, 231
Arkansas

26, 492

171, 781

28, 287 Net 18, 276

28, 067 19, 267

29, 580 30, 487

7, 173
20, 467

31, 762 32, 927
21, 204 23, 362 25, 585 27, 359
Gross
25, 992

27, 135
24, 491
Gulf coast.

28, 061
23, 946

28, 917
23, 668 23,931

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
JGross
• 5, 173

24, 227
Rocky Mountain.

990
6,548

24, 602
6, 381 7, 214

24, 726 23, 974
8, 202
-{Net

132 10,080 12, 392
•5, 154
5, 529

14, 217 6, 376 7, 214

15, 836 8, 201

17, 987 19, 718
9, 128 10,077
12,387 14, 207
15, 826 17,977 19, 704

984
{Gross 218, 062 217,683 220, 358
Total east of California - Net

225, 921 234, 659 243, 585
204, 404

250, 099 253, 277
204, 492

263, 704
207, 757

271, 253
California
212, 476

280, 459
221, 067

282, 404
229, 837 236, 318 239, 856 249, 546
49, 516
52, 085

256, 933

9,850
53, 036 63, 720

265, 258
54, 258 56, 428

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
2,776 2, 750

324
2, 700 2, 650 2,600
Crude...
At Gulf coast stations...

2, 340
340
423
447

2, 433
374

2,551
493

2,604 2, 806
520
627

819 \Topped.

839
622

750
618

789
600

772
600

1, 059
600
600
671
653
635

495 565
4, 277 4, 140 4, 106 3, 959

3, 947

3,987 4, 003 4,004 4, 006 4, 188 4, 206
Total of net pipe-line and tank-larm stocks

4,754
east of California; gross pipe-line, tank.
farm, and producers' stocks in California;
and stocks of foreign petroleum held in
the United States by importers elsewhere
than at refineries.

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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