US oil demand revised down 780,000 b/d February 2009: EIA



New York (Platts)--30Apr2009

Total US petroleum demand in February was revised down 780,000 b/d to
18.706 million b/d, according to data released Thursday by the US Energy
Information Administration in its Monthly Petroleum Supply Report.

Total US petroleum demand was originally estimated at 19.486 million b/d
in preliminary data.

The new total is 1.076 million b/d, or 5.44%, below the February 2008
level.

Implied gasoline demand was revised down 214,000 b/d to 8.816 million b/d
for February while distillate demand came in at 3.915 million b/d, down
118,000 b/d from preliminary estimates of 4.033 million b/d. Year-over-year,
gasoline demand was down just 26,000 b/d while distillate demand was off
336,000 b/d.

Conversely, implied demand for jet fuel was revised up 23,000 b/d to
1.341 million b/d, but was still 196,000 b/d below year-ago levels. Implied
demand for residual fuel oil was revised up 19,000 b/d to 506,000 b/d, which
was 46,000 b/d below the February 2008 level.

US commercial crude inventories ended February at 354.923 million
barrels, an upward revision of 4.119 million barrels from preliminary
estimates.

--Linda Rafield, linda_rafield@platts.com