US Aug Crude Imports Highest Since Sep '07; Nigeria Gains

NEW YORK -- U.S. crude oil imports in August averaged 10.284 million barrels a day, the most in any month since September 2007, as flows from Nigeria recovered, government data published Thurday show.

Imports were up 1.8%, or 183,000 barrels a day, from July, and were down a slim 32,000 barrels a day from a year ago, according to figures from the Energy Information Administration. The figures released Thursday for top suppliers are identical to preliminary numbers released in mid-October.

Canada was the top crude source for the 30th straight month, but its flow of 1.833 million barrels a day in August was the lowest for any month since March. Canada's share of total crude imports dropped to 17.8% from 19.4% in July, and was the lowest since March 2007.

Saudi Arabia, the world's largest oil exporter, maintained its role as the second-biggest supplier to the world's biggest oil consumer. Crude imports from Saudi Arabia fell 7.7% from July to a two-month low of 1.533 million barrels a day in August, but were 4.4% higher than a year ago.

Mexico, which has been struggling to maintain output due to declines in its giant Cantarell oil field, saw its exports to the U.S. move higher for the third straight month. The U.S. imported 1.292 million barrels a day of crude from Mexico in August, up 7.7% from July and the most in any month since November 2007. But volumes were down 6.4% from a year ago.

The U.S. imported 1.146 million barrels a day from Venezuela, the fourth-ranked crude oil source, a drop of 3.4% from July, but slightly more than in August 2007.

Imports from Nigeria, the fifth-biggest crude supplier, jumped 39.8% in the month, to 1.035 million barrels a day, the most since April. Imports were down 13.8% from a month ago. In July, crude imports from Nigeria fell to their lowest level since November 2003, on severe unrest in the oil-producing region, which disrupted exports.

Colombia, which climbed from 11th place into the 10th position in the month, supplying 247,000 barrels a day to the U.S. in August, the most since November 2005. Imports from Chad, the 13th biggest supplier, were up 28.7% in the month, to 139,000 barrels a day, the most since June 2005.

EIA  - Revised Top 10 US Crude Oil Import Sources 
                  (figures in million barrels per day) 
                 Aug     Jul    Aug   Jan-Aug  Jan-Aug 
                  08      08     07      08       07 
Canada          1.833   1.960  1.968   1.890    1.884 
Saudi Arabia    1.533   1.661  1.486   1.542    1.447 
Mexico          1.292   1.200  1.381   1.207    1.418 
Venezuela       1.146   1.187  1.200   1.051    1.120 
Nigeria         1.035   0.741  1.136   0.998    1.028 
Iraq            0.663   0.696  0.572   0.675    0.524 
Angola          0.483   0.640  0.520   0.512    0.509 
Algeria         0.348   0.232  0.400   0.312    0.479 
Ecuador         0.291   0.226  0.250   0.217    0.196 
Colombia        0.247   0.178  0.240   0.209    0.187 

-By David Bird, Dow Jones Newswires, 1-201-938-4423; david.bird@dowjones.com