Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on May 28, 2021

Bookmark and Share

US Crude Oil, Fuel Consumption Surges Ahead Of Summer Driving Season

Consumption

US crude oil and fuel stockpiles fell sharply last week on accelerated demand from refiners ahead of the start of the peak summer driving in an economy rebounding rapidly from COVID-19 suppression, data from the Energy Information Administration (EIA) showed Wednesday

WASHINGTON (UrduPoint News / Sputnik – 26th May, 2021) US crude oil and fuel stockpiles fell sharply last week on accelerated demand from refiners ahead of the start of the peak summer driving in an economy rebounding rapidly from COVID-19 suppression, data from the Energy Information Administration (EIA) showed Wednesday.

Crude oil inventories fell 1.66 million barrels during the week ended May 21, versus the 1 million barrel drawdown forecast by US media, the EIA’s Weekly Petroleum Status Report showed.

Stockpiles of gasoline, the main fuel for cars, fell by 1.75 million barrels against expectations for a slide of 1.1 million.

Inventories of distillates, which include the diesel crucial for trucks and other heavy vehicles, were down by 3 million barrels versus forecasts for a 2 million barrel drop.

 

Refiners typically turn out more fuels such as gasoline and diesel ahead of the Memorial Day holiday, which unofficially marks the start of the peak summer driving season.

The American automobile Association says it expects as many as 37 million road travelers during the three-day break leading to this year’s Memorial Day, which falls on May 31. That would be 60 higher than the pandemic-suppressed number of 23 million travelers seen during Memorial Day 2020, the AAA said.

urdupoint



Leave a Reply

Your email address will not be published. Required fields are marked *