IMG.gif

US Demand Perks Up, Net Exports Touch New Summit

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Heavy,Traffic,Cars,Travel,Supply,Demand,Jam
  • Monthly US demand data from the Energy Information Administration continues to prove higher than preliminary weekly readings.
  • Net exports of crude and petroleum products in August signify a new record for the US.
  • European demand for US crude is strong, but Latin America dominates products.

US oil demand remains stronger than weekly data signal. In August, US oil consumption was 20.6 million barrels per day, which is 560,000 b/d higher than weekly data had signaled, according to the latest numbers in the US Energy Information Administration’s (EIA) Petroleum Supply Monthly. Since April, US demand has been an average 574,000 b/d better than the influential weekly numbers.

Topics:
Oil Demand, Oil Products, Crude Oil, Oil Trade
Wanda Ad #2 (article footer)
#
Iraq's production target reduction will not be met at the expense of exports but rather domestic consumption, officials say.
Tue, Nov 29, 2022
Current price spreads indicate that the supply tightness that has defined oil markets in recent months has diminished.
Tue, Nov 29, 2022