US Oil Demand in December Lower Than Thought

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  • In its latest monthly report, the EIA has revised oil consumption down by 836,000 b/d from weekly data.
  • Core demand for transportation fuels are higher than initially reported by the EIA.
  • The US is still lagging pre-Covid-19 demand, especially for transportation fuels.

US oil consumption fell below the 20 million barrels per day in December for the first time since April, says the latest assessment of the Energy Information Administration (EIA). US oil demand in December is now pegged at 19.49 million b/d, according to the latest Petroleum Supply Monthly, a whopping 836,000 b/d lower than the EIA's influential weekly assessments.

Oil Demand, Oil Supply, Crude Oil, Oil Products
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