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Record US Crude Production in Aug as Road Fuel Demand Revised Higher: EIA


{us}{7i} US crude production rose from 12.96mbpd in July to a record high of 13.05mbpd in August surpassing the pre-covid levels and up from 11.99mbpd in Aug 2022.

  • EIA has revised up the estimate for US road fuel demand in August based on monthly data compared to the weekly data with gasoline consumption at 9.30mb/d vs the weekly at 9.06mb/d and diesel at 4.13mb/d vs 3.76m b/d.
  • Total oil demand was however revised down to 20.88mb/d from 21.1mb/d. Demand was 20.12mb/d in July and 20.265mb/d in August 2022.
    • Change in US oil demand y/y by product in kbpd:
    • Gasoline +184 to 9,299
    • Distillate +193 to 4,134
    • Jet fuel +56 to 1,709

Source: EIA

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