Share
Getting your Trinity Audio player ready...
|
U.S. oil demand surpassed pre-pandemic levels in May and June, as revealed by the latest data revisions from the US Energy Information Administration. Consumption in June reached a five-year seasonal peak of 20.7 million barrels per day, fueled by an unprecedented summer usage of natural gas liquids in petrochemical processes. Motorists in America used up 9.28 million barrels of gasoline daily in June, slightly above prior estimates, but still significantly below pre-Covid-19 levels.
Thursday’s data marks the fourth consecutive upward revision in U.S. oil consumption, indicating that overall demand is stronger than initially anticipated. The EIA faced criticism last summer for underestimating gasoline demand, however, this year’s weekly figures had suggested weaker consumption than what has transpired.
Simultaneously, the surge in demand may be counterbalanced by increased U.S. oil production, which in June returned to pre-pandemic levels. Production in June also saw a slight rise to 12.8 million barrels per day.
Read more at Bloomberg.
RELATED TOPICS:
Five Weeknight Dishes: Seven Ingredients or Fewer, Because Summer
1 day ago
Big Fresno Fair Unveils Second Wave of 2025 Concert Acts
1 day ago
Americans Don’t See Supreme Court as Politically Neutral, Reuters/Ipsos Poll Finds
17 minutes ago
Fresno Man Arrested in Fatal DUI Crash on Trimmer Springs Road
21 hours ago
Israeli Military Kills 41 People in Gaza, Medics Say
21 hours ago
Manhunt for Gunman Who Shot Two Minnesota Lawmakers Enters Second Day
22 hours ago
Israel and Iran Bombard Each Other, Trump Says He Can ‘Easily’ End Conflict
22 hours ago
Trump Vetoed an Israeli Plan to Kill Iran’s Supreme Leader, US Officials Say
22 hours ago
Newsom Wanted To Fast-Track the Delta Tunnel Project. The Legislature Slowed the Flow
24 hours ago
Five Weeknight Dishes: Seven Ingredients or Fewer, Because Summer
1 day ago
Big Fresno Fair Unveils Second Wave of 2025 Concert Acts
1 day ago
Americans Don’t See Supreme Court as Politically Neutral, Reuters/Ipsos Poll Finds
17 minutes ago
Fresno Man Arrested in Fatal DUI Crash on Trimmer Springs Road
21 hours ago
Israeli Military Kills 41 People in Gaza, Medics Say
21 hours ago
Manhunt for Gunman Who Shot Two Minnesota Lawmakers Enters Second Day
22 hours ago
Israel and Iran Bombard Each Other, Trump Says He Can ‘Easily’ End Conflict
22 hours ago
Trump Vetoed an Israeli Plan to Kill Iran’s Supreme Leader, US Officials Say
22 hours ago
Newsom Wanted To Fast-Track the Delta Tunnel Project. The Legislature Slowed the Flow
24 hours ago
Five Weeknight Dishes: Seven Ingredients or Fewer, Because Summer
1 day ago
Big Fresno Fair Unveils Second Wave of 2025 Concert Acts
1 day ago
Suspect in Shooting of Minnesota Lawmakers to Appear in Court on Murder Charges
2 minutes ago
Categories

Suspect in Shooting of Minnesota Lawmakers to Appear in Court on Murder Charges

Iran Asks Gulf States to Mediate for Ceasefire With Israel, Sources Say

Wall Street Climbs as Oil Prices Ease, Fed Meeting in Focus

Americans Don’t See Supreme Court as Politically Neutral, Reuters/Ipsos Poll Finds

Fresno Man Arrested in Fatal DUI Crash on Trimmer Springs Road

Israeli Military Kills 41 People in Gaza, Medics Say

Manhunt for Gunman Who Shot Two Minnesota Lawmakers Enters Second Day
