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API: Modestly better US oil demand reflects general economy
10/25/2010
Nick SnowWashington EditorUS petroleum demand signaled a modest general economic improvement in September as deliveries for all products grew year-to-year, the American Petroleum Institute said in its latest monthly and quarterly statistical report. "The good news is that we're moving toward economic recovery as reflected in petroleum demand, but we should not celebrate yet," API Chief Economist John C. Felmy said.Total product deliveries, which is how API measures demand, grew from comparable 2009 periods for the first 9 months and during the third quarter but continued below the same periods in 2007, he said. "We still see some areas which are relatively weak, particularl...
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