Please ensure Javascript is enabled for purposes of website accessibility
US Oil Demand Soars Past Pre-Pandemic Levels
News
By News
Published 7 months ago on
September 12, 2023

Share

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:

DON'T MISS

Israeli Settlers Rampage Through a West Bank Village, Killing 1 Palestinian and Wounding 25

DON'T MISS

US Intelligence Finding Shows China Surging Equipment Sales to Russia to Help War Effort in Ukraine

DON'T MISS

From Tragedy to Triumph: The Land Before Time Litter’s Journey

DON'T MISS

Oakland Officials Vote to Include ‘San Francisco’ in Airport’s Name

DON'T MISS

Several Writers Decline Recognition From PEN America in Protest Over Its Israel-Hamas War Stance

DON'T MISS

US Consumer Sentiment Falls Slightly as Outlook for Inflation Worsens

DON'T MISS

A Near-Total Ban on Abortion Has Supercharged the Political Dynamics of Arizona, a Key Swing State

DON'T MISS

Convicted Killer of College Student Kristin Smart Attacked at California Prison for Second Time

DON'T MISS

House Advances Reauthorization of US Spy Program as GOP Upheaval Threatens Final Passage

DON'T MISS

While California Politicians Skirmish Over Housing, the Shortage Keeps Growing

UP NEXT

Austin Tells Congress Israel Is Taking Steps to Boost Aid to Gaza as Lawmakers Question US Support

UP NEXT

Will China Flood the Globe With EVs, Green Tech? Latest on US-China Trade Fight

UP NEXT

JPMorgan’s Dimon Warns Inflation, Political Polarization, Wars Creating Risks Not Seen Since WWII

UP NEXT

CA Labor Priorities and Business ‘Job Killers’ on a Collision Course

UP NEXT

4.8 Magnitude NYC Earthquake Unnerves the Northeast

UP NEXT

Robust US Job Growth Indicates Continued Economic Strength

UP NEXT

State Department Under Fire for Downplaying Attack on Humanitarian Workers in Gaza

UP NEXT

US Job Openings Rise Modestly to 8.8 Million in February in Strong Labor Market

UP NEXT

Person Catches Bird Flu After Being in Contact With Texas Cows

UP NEXT

Learn the Latest About Bitcoin From Crypto the Wonderdog & Chris Kameir

Oakland Officials Vote to Include ‘San Francisco’ in Airport’s Name

4 hours ago

Several Writers Decline Recognition From PEN America in Protest Over Its Israel-Hamas War Stance

4 hours ago

US Consumer Sentiment Falls Slightly as Outlook for Inflation Worsens

4 hours ago

A Near-Total Ban on Abortion Has Supercharged the Political Dynamics of Arizona, a Key Swing State

4 hours ago

Convicted Killer of College Student Kristin Smart Attacked at California Prison for Second Time

5 hours ago

House Advances Reauthorization of US Spy Program as GOP Upheaval Threatens Final Passage

5 hours ago

While California Politicians Skirmish Over Housing, the Shortage Keeps Growing

9 hours ago

Tennessee Lawmakers Send Bill to Ban First-Cousin Marriages to Governor

9 hours ago

Instagram Blurs Nude Messages to Protect Teens, Fight Sexual Extortion

21 hours ago

Ohtani’s Ex-Interpreter Charged With Stealing $16M in Betting Case

21 hours ago

Israeli Settlers Rampage Through a West Bank Village, Killing 1 Palestinian and Wounding 25

JERUSALEM — Dozens of angry Israeli settlers stormed into a Palestinian village in the Israeli-occupied West Bank on Friday, shooting and se...

2 hours ago

2 hours ago

Israeli Settlers Rampage Through a West Bank Village, Killing 1 Palestinian and Wounding 25

2 hours ago

US Intelligence Finding Shows China Surging Equipment Sales to Russia to Help War Effort in Ukraine

3 hours ago

From Tragedy to Triumph: The Land Before Time Litter’s Journey

4 hours ago

Oakland Officials Vote to Include ‘San Francisco’ in Airport’s Name

4 hours ago

Several Writers Decline Recognition From PEN America in Protest Over Its Israel-Hamas War Stance

4 hours ago

US Consumer Sentiment Falls Slightly as Outlook for Inflation Worsens

4 hours ago

A Near-Total Ban on Abortion Has Supercharged the Political Dynamics of Arizona, a Key Swing State

5 hours ago

Convicted Killer of College Student Kristin Smart Attacked at California Prison for Second Time

MENU

CONNECT WITH US

Search

Send this to a friend