Petroleum Marketing Monthly, April 1995, with data for January 1995
International crude oil prices rose moderately in January 1995, under the combined influences of lower production and higher demand. Crude oil output both from the Organization of Petroleum Exporting Countries (OPEC) and from non-OPEC nations declined from December levels due to a variety of causes, including severe weather in the North Sea and a platform explosion offshore Nigeria. At the same time, strong demand, especially from Asia, revised buying patterns and tightened markets worldwide. In the United States, reformulated gasoline (RFG) remained the dominant market influence, with the official start of the program at the retail level on January 1. Repercussions from the {open_quotes}opting out{close_quotes} of counties in Pennsylvania, New York, and Maine in December continued to disrupt supply patterns and confuse markets. Gasoline prices spiked at mid-month, but ended near where they began, while distillate prices declined due to warm weather and high inventories. A sharp seasonal decline in motor gasoline volumes led total refiner sales of the major petroleum products down 5.9 percent from December levels. January market and sales activity for crude oil and the principal petroleum products is summarized in the following sections.
- Research Organization:
- US Department of Energy (USDOE), Washington DC (United States). Energy Information Administration, Office of Oil and Gas
- Sponsoring Organization:
- USDOE, Washington, DC (United States)
- OSTI ID:
- 39095
- Report Number(s):
- DOE/EIA-0380(95/04); ON: DE95009667; TRN: 95:003408
- Resource Relation:
- Other Information: PBD: Apr 1995
- Country of Publication:
- United States
- Language:
- English
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