U.S. petroleum demand rises to strongest in over 10 yrs

Source: Xinhua| 2018-11-17 14:58:17|Editor: mmm
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WASHINGTON, Nov. 16 (Xinhua) -- U.S. petroleum demand in October hit its strongest level since 2006, according to statistics released on Friday.

The statistical report released by the American Petroleum Institute (API) show that U.S. petroleum demand in October rose by 3.3 percent month on month to 20.8 million barrels per day.

On a year-on-year basis, the demand in October rose 3.9 percent.

Gasoline demand in October was 9.5 million barrels per day, a new record for the month of October.

U.S. petroleum exports in the month were 7.6 million barrels per day, up for a second consecutive month following a setback in August.

"Strong petroleum demand is a continued reflection of a strengthening U.S. economy," said Dean Foreman, chief economist of the API.

API is a national trade association with more than 600 members, including large integrated firms as well as firms specializing in certain business segments.

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