Petroleum Demand Up in December and Fourth Quarter

Total U.S. petroleum deliveries (a measure of demand) rose by 5.8 percent from December 2012 to average nearly 19.2 million barrels per day last month. For the fourth quarter of 2013, petroleum deliveries increased by 4.6 percent compared to the fourth quarter of 2012.

“Both demand and production in December showed strong gains over the prior year, reflecting continued progress in domestic manufacturing as well as the broader economy,” said API Chief Economist John Felmy.

Gasoline demand rose by 4.5 percent from December 2012 to average nearly 8.8 million barrels per day. Demand also increased from the prior year for distillate (5.9 percent), jet fuel (9.9 percent), “other oils” (11.1 percent) and residual fuel (40.5 percent).

Source : American Petroleum Institute (API)