Domestic petroleum deliveries, a measure of demand, totaled 19.0 million bpd in July, a decline of 3.0 percent versus the corresponding 2008 period and “about half the average rate of decline during the first half of 2009,” the American Petroleum Institute reported last week in its latest Monthly Statistical Report.
“The data are consistent with reports that the economic downturn may be flattening out,” said Ron Planting, manager, information and analysis for the API. “However, U.S. oil demand is still significantly below where it was a year ago.
Gasoline deliveries for the month reviewed edged up 0.8 percent to 9.223 million bpd, while distillate fuel oil deliveries, including diesel fuel, marked their first month in almost two years without a significant dip. At 3.695 million bpd, the data showed distillate fuel oil deliveries edged up 0.2 percent versus July 2008.