OIL DEMAND ROSE
Total petroleum deliveries (a measure of demand) grew by 2.2 percent from July 2014 to average nearly 19.6 million barrels per day last month, according to API's Monthly Statistical Report for July 2015.
"Demand for and production of oil and refined products grew across the board over the last year," said API Chief Economist John Felmy. "In fact, demand for and production of oil and refined products were the highest July in eight years, since 2007."
Gasoline demand rose last month by 2.1 percent from July 2014 to just above 9.4 million barrels per day, and distillate demand rose 1.1 percent.
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