Total US petroleum demand reaches highest level since 2005

Highlights from the July 2019 Monthly Statistical Report include:

• Sustained world-leading crude oil production at a record pace of 12.0 million bpd year-to-date.
• Total US petroleum demand of 20.8 million bpd was highest for July since 2005.
• Jet fuel demand for the month of July reached a new record of 1.8 million bpd.

“The continued ability of US production to meet the world’s increasing energy needs is a testament to the shale revolution,” said API Chief Economist Dean Foreman. “With sustained production at a record pace of 12.0 million bpd year-to-date, and US Energy Information Administration analyses predicting that natural gas and oil will provide more than half the world’s power for decades to come, the US is increasingly well-positioned to cushion global oil markets and insulate consumers from external shocks and price volatility.”