US Oil Imports Bounce Back in January After Fourth-Quarter Slump

摘要

US crude imports rebounded in January from the extremely low levels reached in the fourth quarter, with the average rising back above 9 million barrels per day. The increase at the beginning of the year likely reflected a renewed appetite for crude among refiners after they drew down inventories at the end of 2010 for tax purposes, rather than any sharp uptick in consumer demand. The bounce back was accompanied by rampant volatility in the volumes supplied by each exporter.