US Demand Perks Up, Net Exports Touch New Summit

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  • 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.

Oil Demand, Oil Products, Crude Oil, Oil Trade
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