U.S. Oil Demand Fell to 18-Year Low for January, API Says

[libertyjam]

http://www.bloomberg.com/news/2013-0...-api-says.html

U.S. January oil demand fell to the lowest level for the month in 18 years as a weak economy reduced consumption, the American Petroleum Institute reported.

Total petroleum deliveries, a measure of demand, dropped 1.7 percent from a year earlier to 18 million barrels a day, the industry-funded group said in a monthly report today. Total consumption fell 2 percent in 2012, the API said last month. The U.S. jobless rate increased to 7.9 percent from 7.8 percent in January.

“The January numbers reprise last year’s theme of weak demand,” John Felmy, chief economist at the API, said in the report. “This isn’t surprising given an economy that’s still treading water.”

January petroleum demand fell 2.4 percent from December, according to the API. Gasoline deliveries were 8.38 million barrels a day, up 2.4 percent from a year earlier and down 2.3 percent from December.

Use of distillate fuel, a category that includes heating oil and diesel, slid 6 percent from a year earlier to 3.6 million barrels a day. Demand for ultra-low-sulfur diesel, the type used by the trucking industry, fell 4.4 percent to 3.11 million.

Jet fuel consumption decreased 0.5 percent from a year earlier to 1.31 million barrels a day.

[oyarde]

I would not expect Feb to be much different.

[ItsTime]

Lucky for us we live in a free market and the price will fall....

[osan]

U.S. January oil demand fell to the lowest level for the month in 18 years as a weak economy reduced consumption, the American Petroleum Institute reported.

Yet prices have spiked.

Can you say, "market manipulation"?

Can you say, "social engineering"?

Can you say, "we're in deep kimchee"?

Looking at this, anyone still choosing to believe we have free and organic markets is far less intelligent than an imbecile.


If this trend continues, keep your eyes peeled for a setup because it's getting a mite creepy out there.

[Michigan11]

The right person should be able to figure out the real unemployment and other statistics from this number being reported. The economy runs on oil, yet we have become more efficient with oil usage, yet it is used in more items such as plastics, etc, while the population has increased quite a bit from 18 years ago. I would think this is a pretty telling number for someone to crunch the numbers, such as John Williams, who I am sure is on it.

[schiffheadbaby]

Yet prices have spiked.

Can you say, "market manipulation"?

Can you say, "social engineering"?

Can you say, "we're in deep kimchee"?

Looking at this, anyone still choosing to believe we have free and organic markets is far less intelligent than an imbecile.


If this trend continues, keep your eyes peeled for a setup because it's getting a mite creepy out there.

Why market manipulation? Oil just had to catch up with Gold/silver for a bit, oil has fallen. I wish people weren't so conspiratorial.

We should be angry at Fed and government, not "manipulators"

[enoch150]

US consumption is down.



But they just export the difference.

[Michigan11]

US consumption is down.



But they just export the difference.

Looks like we found free energy around 2008 and no longer need this silly gasoline

[enoch150]

Looks like we found free energy around 2008 and no longer need this silly gasoline

Unemployed people don't need to drive to work.

[mad cow]

Unemployed people don't need to drive to work.

Or to a restaurant,or a movie,vacation,sunday cruise in the country with the kids...
It adds up.