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U.S. oil January demand drops by 1 percent year-on-year – EIA

05 April 2016  Oil Market
U.S. oil January demand drops by 1 percent year-on-year – EIA
U.S. oil demand dropped in January from a year earlier, as demand for gasoline and distillates products weakened, according to data released by the U.S. Energy Information Administration.
Total U.S. oil demand fell 194,000 barrels per day, or 1 percent from the same month last year, to 19.05 million bpd, EIA data showed.

U.S. distillate demand, which was pummeled by a historically mild winter, fell 9.9 percent from January last year, as warmer weather cut demand for heating oil.
U.S. gasoline demand, which has seen sustained strength amid lower pump prices, fell in January by 0.6 percent, or 48,000 bpd, year-on-year.

The January drop in overall oil demand comes on the heels of a strong December. At 19.5 million bpd, December demand rose 0.4 percent, the first year-on-year rise in four months.

Source: Reuters (Reporting By Jarrett Renshaw; Editing by Marguerita Choy)
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