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Oil Demand Decline Slows in July

Jane Van Ryan

Jane Van Ryan
Posted August 19, 2009

According to API's monthly statistics report, July oil product deliveries--a measure of demand--fell 3.0 percent from a year ago, which slowed the rate of decline by half compared with the first half of the year.

Despite the overall decline in product deliveries, gasoline deliveries rose a modest 0.8 percent, and distillate fuel oil deliveries (including diesel fuel) marked their first month in almost two years without a significant dip. Jet fuel deliveries fell nearly 12 percent from a year ago to their lowest July level since 1993, and residual oil deliveries dropped by more than one-fourth.

"The data are consistent with reports the economic downturn may be flattening out," said Ron Planting, manager, information and analysis for the American Petroleum Institute. "However, U.S. oil demand is still significantly below where it was a year ago."

Read more on API's monthly statistics report.

ABOUT THE AUTHOR

Jane Van Ryan was formerly senior communications manager and new media advisor at the American Petroleum Institute (API), where she wrote blog posts and produced podcasts and videos. Before coming to API, Jane managed communications for a large science and engineering corporation, and for a top-tier research and engineering university. A few years ago, you might have seen her in your living room when she delivered the news on television. Jane officially retired from API in 2011 and now freelances as an independent communications consultant when not gardening at her farm in Virginia.