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peplareon Jun 20, 2015 11:54am
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US petroleum demand grew 5.4 percent in May
US petroleum demand grew 5.4 percent in May US petroleum demand grew 5.4 percent in May
Saturday, 20 June 2015 | 00:00
Total U.S. petroleum deliveries (a measure of demand) grew by 5.4 percent last month from May 2014 to average 19.5 million barrels per day. This was the highest monthly demand yet seen in 2015.“Fuel demand was up across the board last month, but stocks of crude oil and gasoline remained elevated thanks to robust production,” said API Chief Economist John Felmy. “Activity in the refining sector was particularly strong, setting several new records for the month of May.”
Gasoline demand grew by 2.5 percent compared to May 2014 to just above 9.2 million barrels per day. Distillate deliveries reached a new record for the month, up by 4.5 percent from the prior year to average 4.1 million barrels per day. Over the same period, demand also rose for jet fuel (11.5 percent), residual fuel (1.3 percent) and “other oils” (13.8 percent).