API reports that US gasoline, diesel demand continued to recover in October
19 November 2010
US gasoline demand carried over the modest recovery it saw in September through the month of October, according to the American Petroleum Institute’s (API) Monthly Statistical Report. October gasoline deliveries averaged 9.04 million barrels per day, 1.4% higher than the previous month and 0.6% higher than October 2009.
Domestic distillate deliveries, meanwhile, were up 4% compared with October 2009, driven by robust demand in ultra-low sulfur distillates, the type used for on-highway fuel, indicating continued positive momentum in industrial activity. ULSD deliveries averaged 3.19 million barrels per day, 8.4% higher than the previous October.
US crude oil production in October rose to 5.5 million barrels per day, marking the highest production level for any October since 2003. Production from the Lower 48, at 4.86 million barrels per day, held mostly steady compared with recent months, and was up 0.2% from October 2009 levels. Following the summer maintenance season, Alaskan crude oil production, at 654,000 barrels per day in October, was higher than September, but was 0.6% lower than the corresponding month a year ago.
US crude oil inventories continued to build in October, the fourth consecutive month-to-month increase. At 366 million barrels, end-October’s crude oil stocks were the highest for any October since 1980.
".. US gasoline, diesel demand continued to recover in October"
Shouldn't the idea be to have LESS demand via efficiency and fuel alternatives?
This 1900's "burn baby burn" oil mindset has to end.
Posted by: kelly | 19 November 2010 at 04:35 PM
kelly: uhhh how about affordable renewable energy powered transportation instead of $40,000 Volts? It's obvious what the problem is - renewable energy is too expensive. Quit b i t c h i n g.
Posted by: ejj | 20 November 2010 at 04:44 PM
It's all good--it means the economy is slowly starting to get back on its feet.
Posted by: Nick Lyons | 20 November 2010 at 04:56 PM
I would rather the economy recover than not, but I would rather it not be led by more oil imports.
Posted by: ToppaTom | 20 November 2010 at 07:51 PM
This is just an indicator they use, since not much has changed on efficiency over time. Maybe that is the problem.
Posted by: SJC | 21 November 2010 at 12:50 AM
This growth is very close to the credit growth for the month.
Can the economy recover by burning more fuel an going deeper in debt?
May be, for a short time.
Fundamentals will have to change for sustained economy growth.
Posted by: HarveyD | 21 November 2010 at 06:53 AM
It would seem like a good idea if the $200 billion per year that we send to OPEC for oil stayed in the country paying the farmers for corn stalks and cobs and people buying biofuels made here in the U.S.
Posted by: SJC | 21 November 2010 at 10:59 AM