API: US petroleum demand hits highest July level in 3 years

09/02/2013
Total US petroleum deliveries, as a measure of demand, averaged 18.9 million b/d last month, up 1.7% from year-ago levels and hitting a 3-year high, according to the American Petroleum Institute’s monthly petroleum statistics. "The summer travel season brought greater demand for several fuel types last month than we’ve seen in recent years," said API Chief Economist John Felmy. "On the supply side, we produced more domestic crude last month than at any other point in the last 22 years." Gasoline demand rose 2.2% to 9 million b/d, the second lowest July level in 13 years. Jet fuel demand rose 2.3% and distillate deliveries increased 8% from the previous year levels, rec...
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