Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1904-06-22
MAY PETRO-
LEUM EXPORTS

amount Of petroleum shipped
abroad in May and a correspond
ing reduction in the value. The
May exports, while in excess of
those of March, were below those
of any month since March, 1903.
For the first eleven months of the
fiscal year ending June 80, 1904,
the exports of petroleum and its
products are very nearly a stand
off with those of the correspond
ing period of 1903.
April showed the heaviest ex-
ports of petroleum and its prod
ucts, of any month since October,
1902, and the value was greater
than for any month since last
November. In November nearly
100000 less gallons were ship
ped abroad, but owing to the
higher prices that prevailed the
smaller amount brought a larger
sum. Nearly 1870 of the petrol
cum exports was composed of il
Illuminating oil, while the crude
shipments were about 1870 Of the
total. Prices made another decline
in April, but averaged a little
higher than April last year.
Exports of petroleum and it's
products during March were be-
hind both in amount and value of
the February record, but made a
decided gain over the correspond
ing month of last year. February
exceeded January both in the
amounts and value Of petroleum
and it's products sent abroad, but
the gain was neither large nor i'm
portant. January commenced the
new year with a heavy decline,
both in the. amount and value Of
our petroleum exports. The year
1903 showed the smallest amount
Of mineral oil products shipped
abroad since 1898.
The refined market, which was
quoted at $50 cents per gallon for
IA degree Abel test in barrels and
$50 cents in bulk at the beginning
of 1903 was marked up to $50
cents in May. Values continued
to advance until the $50 cent
point was reached in November,
but in December there was a cut
of 40 points and the old year
closed with barreled oil at 90
cents per gallon. Since the first
Of the current year the trend OF
prices has been downward. On
February II Of the current year,
there was a cut of ID points, fol-
lowed later by another Of 10
points, and the month closed at
8.85 for barreled and 5.95 for bulk
oil. Prices were again reduced in
March, and a cut of 5,points fol-
lowed in April, which made the
quotations at the close of April
and May SIS for barreled and
5,25 cents for bulk oil per gallon.
The average price for refined oil
in Nav, 1903, was $40 cents per
gallon.
Exports Of Texas oil from Gal
weston appeared for the first time
as a conspicuous feature in the
monthly statement of the Bureau
of Statistics early in 1902, and the
foreign shipments for the year
amounted to 26,666,S75 gallons
and were valued at $241, 649. The
exports of Galveston for the year
1903 were composed Of 12,29S,357
gallons Of crude oil, 4,71f,964 gal
Ions Of Illuminating, 3O,563 gal
Ions of lubricating and $3.50, 425
gallons of residium, the value Of
which amounted to $520,626. Ex-
ports from Galveston for May
were composed of 2,255,551 gal
Ions of illuminating oil and $780,
331 gallons of residium. These
were the largest of the current
year. For the eleven months end
ing with May, 1904, the exports
from Galveston were 1857, 658
gallons and were valued at ST.
412,OS9. 1t is plain that Texas
oil is becoming a considerable fac
tor in supplying the European de-
mand for a cheap illuminant.
The total exports Of mineral
oils in May amounted to 69,4lS,-
367 gallons, and were valued at
d. IE0 400 Conororo6 with 4 TlT.Il