US crude oil demand and production down in 2008
15-01-09
The American Petroleum Institute (API) reported that America's demand for
crude oil fell in 2008 to its lowest level since 2003.
For 2008, US petroleum deliveries decreased by 6 %, to 19.4 mm bpd.
API, the oil industry's trade association, also said US crude oil production
in 2008 dropped below 5 mm bpd for the first time since 1946. That's largely
attributable to lower Alaskan output and disruptions caused by hurricanes
Gustav and Ike.
Record-high oil prices in early 2008 and the deepening recession late in the
year combined to curb both the demand for and consumption of oil.
Source:
http://phoenix.bizjournals.com
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