Column: Coronavirus flare-ups delay full oil demand recovery: Kemp | Reuters
U.S. petroleum consumption has recovered to pre-pandemic levels, but there has been a marked shift from consumer-facing sectors towards industry and freight transportation, mirroring the uneven economic recovery.
The total volume of petroleum products supplied to domestic customers climbed to 20.1 million barrels per day (bpd) in May, according to the Energy Information Administration (“Petroleum supply monthly”, EIA, July 30).
Volumes were down by less than 300,000 bpd (1.4%) from the same month in 2019, before the COVID-19 pandemic, and were actually 200,000 bpd (1.1%) above the pre-pandemic five-year average for 2015-2019.
But continued strong growth in consumption of hydrocarbon gas liquids (HGLs), mostly used in petrochemicals and other industries, has masked an incomplete recovery in fuels supplied to end-users.
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