The US also set October records for gasoline demand at 9.5 million bpd; refining and petrochemical demand for liquid feedstocks, naphtha, and gasoil at 5.1 million bpd; and refinery throughput at 16.6 million bpd.
“Strong petroleum demand is a continued reflection of a strengthening US economy,” said API Chief Economist Dean Foreman. “Coupled with robust production of crude oil at 11.2 million bpd and another 4.5 million bpd of NGLs in October, the US continued to meet virtually all global oil demand growth so far this year while it also kept domestic oil prices more than US$9.00/bbl below international ones and fuel costs affordable for consumers here at home.”
