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Article: International Energy Agency hikes estimates of U.S. oil demand.
- Article from:
- The Oil Daily
- Article date:
- June 8, 1992
- Author:
CopyrightCOPYRIGHT 1992 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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There continues to be good news about oil demand recovery in the U.S., as the International Energy Agency has raised its estimates for the second month in a row.
Consumption in North America during the current April-June quarter is now expected to average 18.6 million barrels daily, an increase of 300,000 b/d over IEA's projection in early May, and 500,000 b/d or 2.5 percent higher than actual demand a year earlier, according to IEA's latest Oil Market Report. The upward revision reflects stronger than expected U.S. demand growth, which preliminary estimates put at about 1 million b/d or 6 percent for April.
In early May the IEA reported growth of ...