US Oil Demand Hits Highest Level Since Before Pandemic: EIA

Monthly gross natural gas production, meanwhile, rose 100 MMcf/d to a record 108.3 Bcf/d in the U.S. Lower 48 states in December, the EIA said in its monthly production report.

Reuters

U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Feb. 28, with product supplied nearing 21 million bbl/d.

Overall fuel demand was up 10% year-on-year in December at 20.8 million bbl/d, its highest since August 2019. Product supplied is a proxy for consumer demand since it mostly reflects fuels processed from U.S. crude oil for consumption and export.

Crude oil production slipped by about 206,000 bbl/d to 11.57 million bbl/d in December, the EIA said in its Petroleum Supply Monthly report. U.S. crude exports rose to 3.45 million bbl/d.

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