API: US petroleum demand recovered 14% between April and May

US petroleum demand, as measured by total domestic petroleum deliveries, was 16.2 million b/d in May, according to the American Petroleum Institute’s latest monthly statistical report. This was 20.0% below the May 2019 level but reflected an increase of 14% (2 million b/d) from April—the largest percentage increase for any month since December 1975.

More than 80% of the increase was driven by motor gasoline and the gradual loosening of stay-at-home orders to prevent…Read More

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