04222018Sun
Last updateFri, 20 Apr 2018 5pm

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End-User News

U.S. Petroleum Demand Near Highest Level in 11 Years

Led by gasoline and seasonal demand for heating fuels, U.S. petroleum demand hit 20.3 million barrels per day in February. According to the American Petroleum Institute, demand was up by more than a million barrels per day from February of last year, nearing record highs not seen for more than a decade.

In addition, the U.S. rig count climbed to 984 rigs as of March 9 and has averaged 959 rigs through Q1 2018 to date; this represents an increase of 4.0% above the average for Q4 2017 and should position U.S. production for continued growth. 

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