OGJ Newsletter

07/30/2012
GENERAL INTEREST — Quick Takes API: US oil demand fell in June, first half US oil demand in June declined by 3% from a year earlier, according to the latest monthly statistical report from the American Petroleum Institute. During this year's first 6 months, demand fell by 2.6%. "A weakening economy requires less fuel, and this by most measures is a weakening economy," said API chief economist John Felmy. "The fall in demand in June is particularly notable and consistent with other disappointing metrics in the economy, including falling retail sales and contraction in the manufacturing sector," he said. Gasoline demand in June declined by 2.5% from a year earlier and ...
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