US petroleum demand for March highest since 2007

April 20, 2018

US petroleum demand reached 20.6 million b/d in March—the highest level since 2007, according to the latest monthly statistics of the American Petroleum Institute. To satisfy demand, US refineries utilized 91.5% of their capacity—a record for the month of March—and processed 17 million b/d of oil and natural gas liquids. The US also produced a record 10.4 million b/d of crude oil plus another 3.9 million b/d of NGLs.

“As the US’s leading position in oil and natural gas markets advanced in March, consumers continue to enjoy affordable prices at the pump,” said API Chief Economist Dean Foreman. “Economic strength at home and abroad has spurred a virtuous cycle of US oil demand, production, and exports that in turn have helped to reinforce prices and motivate even greater infrastructure investment and US drilling activity....

Read entire article at Oil & Gas Journal.


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