Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-07-16

The exports of petroleum and Its
products for June were smaller
than either May or April and the
returns were correspondingly de-
creased. Compared with June a
year ago, there was a falling off In
the foreign demand of nearly a.
ooo, 900 gallons. The fact is largely
dae to the enhanced values, con-
sequent upon a diminished supply
and the increasing home demand.
When American refined oil gets
beyond a certain limit of price, the
foreign consumer either substitutes
a cheaper and inferior illuminant
O, begins to economic In the
amount consumed.
May was behind April In both
the amount and value of petroleum
exported from the United States.
but was far ahead of the records
made by January, February and
March. May was also behind In
the oil shipments abroad In May
year ago. The general tendency
of higher prices for export oil Is to
check the foreign demand. During
every month save one, between
April, 1901, and December, 1902,
our exports of petroleum exceeded
80, 900 900 gallons. For every
month of the current year they
have fallen below that amount.
April showed a heavy gain. both In
the amount and value of our petro-
leum exports over March, and so
far Is the banner month Of the cur
rent year. It fell short, however by
ten millions of gallons of April a
year ago, but was ahead on valua.
ton. The foreign demand for
American petroleum and Its pro-
ducts revealed a heavy decline dur.
Ing March and was behind, both In
amount and value, of the February
record. Our exports were also
much below those of March last
year.
The refined market, which was
quoted at 8:3, cents rer gallon for
"a degree Abel test In barrels, and
and S 50 cents In bulk at the be
ginning of the year, was reduced
10 points on January 22 and ad.
iva iced IS points Oh March Fl.
The present quotation Is s.55 cents
for oil In barrels and S IS cents ior
oil In bulk. The difference pei
gallon between bulk and barreled
oil has been advanced from 40 to
2 90 cents per gallon, an account OF
the increased cost Of cooperage'
Refined oil Ia bulk averaged 40
cents gallon In June, 1902
Exports from Galveston for the
first time appeared as conspicuous
feature In the monthly statrment OF
the Treasury Department early In
1902. The total exports from Gal
weston for 1902, which must In
clude all the foreign shipments of
the Beaumont oil district. were
26,666,S75 gallons and valued at
$241,64e. In the first month of
the current year nothing In the
way of export oil was reported
from Texas. In February the ex e
ports from Galveston were 2,244,.
e53 gallons of crude oil. valued at
$I1,75o. This was a little over
one half a cent per gallon. In
March no exports of oil 10 foreign
ports was reported at Galveston,
while for March a wear ago they
were reported at 566,537 gallons.
For April, 1,oe3.113 gallons Of
crude and 1,55s,S62 gallons of illu-
minating oil were shipped from the
Galveston custom district. The
exports from Galveston for May,
1908, were 226.ooo gallons, valued
at s., 900, while for June no oil was
shipped 10 foreign ports. The
Texas producer appear to be find
Ing a better market for his oil near
er home. At the same time pro
duction has been increasing and
the price reduced.
The June exports of petroleum,
as reported by o. P. Austin, chief
of the Bureau of Statistics, were IT,
o12,oes gallons and valued at $5,-
2oS, 6s4. This reveals decline
from the May record of 3,54o,6o1
gallons In amount and $57I,731 In
value. Compared with June, 1902,