U.S. oil demand falls for first time in six months in July

overall oil call for in July fell by means of 1.three percentage, or 267,000 barrels in keeping with day (bpd), from a yr ago to 19.712 million bpd, EIA information confirmed.

It was the primary time oil demand fell year-over-yr on account that January and the fifth yr-over-year lower within the beyond one year, EIA facts confirmed.

The call for growth was led all over again by using fuel, which rose by way of 1.7 percent, or 159,000 bpd, from a year ago to 9.597 million bpd, consistent with the EIA's petroleum supply month-to-month record.

fuel call for in June become the highest ever at 9.66 million bpd, in step with the EIA, which began tracking gas call for in 1945.

U.S. fuel call for is predicted to be ancient for this summer season's using season, which unofficially ended on labor Day. despite regular demand, U.S. refiners are still battling susceptible margins because of stubbornly high fuel inventories.

The fuel call for numbers have been not strong sufficient to conquer susceptible call for for distillates, which fell 7.7 percentage 12 months-over-yr in July, or 299,000 bpd, to a few.578 million bpd, EIA facts confirmed.