IMG.gif

EIA: US Oil Demand Looking Rosier

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Train,Tanks,Oil,Fuel,Transporting,Supply,Demand,Imports,Exports
  • The EIA has revised demand up by 749,000 b/d in its latest end-of-month report.
  • US NGLs, now at a historic high, will see an increase in both production and demand in 2023.
  • Consumption of hydrocarbon liquids in first-half 2022 has approached 2019 levels.

US oil demand is improving and even approaching pre-pandemic levels. In the first six months of 2022, US oil consumption came in at 20.247 million barrels per day, which is 161,000 b/d below the same period in 2019, the latest data from the US Energy Information Administration (EIA) show. Despite higher oil prices, US demand in June rose to 20.772 million b/d, the highest so far thus, according to the EIA’s Petroleum Supply Monthly. The report, issued on Aug. 31, put US demand at a whopping 749,000 b/d higher than the influential weekly data.

Topics:
Oil Demand, Oil Products, Crude Oil, Oil Prices, Oil Supply, Oil Trade
Wanda Ad #2 (article footer)
#
Iraq's August crude production was the highest since March 2020 but still lower than the target set by Opec-plus.
Tue, Sep 13, 2022
Trading of Russian oil — never transparent at the best of times — is being driven further underground by western sanctions.
Fri, Sep 23, 2022
Refinery capacity is strained and inventories are low, meaning a single storm could have big ripple effects.
Fri, Sep 23, 2022