08162018Thu
Last updateThu, 16 Aug 2018 6pm

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End-User News

U.S. Petroleum Demand Sustains Highest Levels in 11 Years

The American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day of oil.

Strong global demand raised international oil prices by more than domestic ones. Domestic WTI crude oil prices averaged $66.25 per barrel in April, up by 5.6% from March and 29.7% versus April 2017. Meanwhile, international Brent crude oil prices continued to increase. 

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