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Page added on September 29, 2009

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U.S. July oil demand lowest in 13 years: Govt

WASHINGTON (Reuters) – The U.S. government on Tuesday revised down U.S. oil demand in July to 4 percent below year-ago levels as the struggling economy sent petroleum consumption to the lowest level for the month in 13 years.

Oil demand in July was 133,000 barrels per day (bpd) less than the Energy Information Administration previously estimated at a revised 18.771 million bpd, the lowest since 1996. That’s down 786,000 bpd from a year earlier when demand was 19.557 million bpd.

The EIA report appears to contradict other recent government data that suggest the U.S. economy is on the road to recovery.

While gasoline demand was up from a year ago, consumption of other major refined petroleum products was down sharply.

Reuters



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