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Strong global oil demand and U.S. production has boosted the 2018 Q2 energy outlook (includes May monthly statistical report)

WASHINGTON, June 21, 2018 – Today the American Petroleum Institute released its industry outlook for the second quarter of 2018. The report shows the strength of global economic growth and how that has translated into record oil, natural gas and petrochemical demand.

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U.S. petroleum demand sustains its highest levels in 11 years

WASHINGTON, MAY 17, 2018 – Today the American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.

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Record U.S. oil production fuels highest demand since 2007

WASHINGTON, APRIL 19, 2018 – Today the American Petroleum Institute reported that U.S. petroleum demand reached 20.6 million barrels per day (MBD) last month, the highest level since 2007. To satisfy demand, domestic refineries utilized 91.5 percent of their capacity – a record for the month of March – and processed 17 MBD of oil and natural gas liquids (NGLs). The U.S. also produced a record 10.4 MBD of crude oil plus another 3.9 MBD of NGLs.

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U.S. petroleum demand near its highest levels in 11 years

WASHINGTON, March 15, 2018 – Led by gasoline and seasonal demand for heating fuels, U.S. petroleum demand hit 20.3 million barrels per day (MBD) in February. Demand was up by more than a million barrels per day from February of last year, nearing record highs not seen for more than a decade.

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U.S. crude oil production hits a record high in January at 10.2 million barrels per day

WASHINGTON, February 16, 2018 – U.S. crude production rose to 10.2 million barrels per day (MBD) in January – the highest monthly output on record, according to API’s monthly statistical report. This was an increase of 1.1 percent versus December and 15.1 percent from January 2017.

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Petroleum deliveries last month highest for December since 2007; full Monthly Statistical Report made freely available for the first time

WASHINGTON, January 26, 2018 – Total petroleum deliveries in December rose to 20.7 million barrels per day. This was the strongest December monthly demand in the last decade.  For 2017, total domestic petroleum deliveries rose by 1.0 percent year-on-year, despite oil prices that rose over the second half of the year. U.S. oil production also continued to increase in December to 9.75 million barrels per day (MBD), a 47-year high, while U.S. exports of crude oil and refined products – up by nearly 1.0 MBD for 2017 – set new records.

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