Commodities
Oil Demand in US Topped Pre-Covid Levels in May and June
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Oil demand in the US topped pre-pandemic levels in May and June, according to the most recent data revisions from the US Energy Information Administration.
June consumption rose to 20.7 million barrels a day, a five-year seasonal high, driven by record summer consumption of natural gas liquids used in petrochemical processes. American drivers burned 9.28 million barrels a day of gasoline in June, slightly higher than previously thought, but still well below pre-pandemic levels.