U.S. petroleum product exports reached record high levels in 2014, the country's Energy Information Administration, EIA, said Wednesday.
Exports of non-crude petroleum products from the U.S. averaged 3.8 million barrels per day in 2014, an increase of 347,000 barrels per day from 2013, and a new record high,' according to the EIA.
The administration said that the high levels were due to the country's refineries having record-high outputs in 2014, which averaged 16.1 million barrels per day in 2014, along with the rise of global demand for petroleum products.
Other contributors to the rise were noted as increased exports of motor gasoline and hydrocarbon gas liquids, including propane and butane.
The main destination for the exported products was Central and South America, where export volumes increased by 15 percent, or 172,000 barrels per day in 2014, compared to the previous year.
Other destinations included Canada and Mexico, where non-crude petroleum products increased by 80,000 barrels per day, or 8 percent last year, compared to 2013.
The EIA noted that the only decline came with the Middle Eastern exports, which decreased to 47,000 barrels per day in 2014, from 55,000 barrels per day in 2013.
- Rise in oil inventories
Meanwhile, the EIA said early Wednesday that U.S. crude oil stocks rose by 10.3 million barrels in the week ending Feb. 27 to reach a total of 444.4 million barrels, the most in at least 80 years.
This is the eighth consecutive week the U.S. commercial crude stocks have risen since the week ending on Jan. 9., when it was 387.8 million barrels.
Last week's stock increase is also the highest inventory rise since the week ending April. 6, 2012, when crude stocks rose by 11.8 million barrels in a single week.
By Ovunc Kutlu
Anadolu Agency
ovunc.kutlu@aa.com.tr