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API: US oil demand showed signs of recovery late in 2009

01/25/2010
By Nick Snow
US oil demand fell during 2009 but began to recover as the year concluded, the American Petroleum Institute said. Gasoline, kerosene, and all other oils were strongest, but distillate fuel oil lagged, especially for on-highway uses, API's yearend 2009 and December statistics showed."Clearly, petroleum demand is mirroring the economic recovery," said John C. Felmy, API chief economist, on Jan. 15. "We are seeing December demand figures stronger than fourth-quarter figures and fourth-quarter figures stronger than full-year figures. But the data also indicate that the recovery still has a distance to go, particularly if you look at ultralow-sulfur diesel fuel."API's domes...
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