API: US oil demand declined in August, first 8 months

10/01/2012
US petroleum deliveries, a measure of demand, decreased by 4.3% in August from a year earlier to 18.6 million b/d, according to the latest monthly statistics from American Petroleum Institute. This was the lowest August demand level in 15 years, and it contributed to 2.6% lower oil demand for the year to date, API said. Demand for gasoline, distillate, and jet fuel declined not only in August but also in this year's first 8 months compared with the comparable period in 2011. Motor gasoline demand, which averaged 8.893 million b/d in August, declined by 0.4% from a year earlier. At 1.44 million b/d, jet fuel demand in August was down 7.4% from a year earlier. Distillate demand, meanwhile, ...
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