Product demand hits new high

摘要

New York-Total US product demand hit an all-time high of 22.156-mil b/d last week,an increase of 514,000 b/d week-over-week,with the largest jump occurring in distillates,according to data from the Energy Information Administration released Dec 21."For the second week in a row total product deliveries(our best proxy for oil use)set a one-week record,this time of 22.16-mil b/d(up 6% y-o-y),"Jan Stuart,energy analyst at UBS,said in a report."The current record was in large part driven by deliveries of middle distillates,up 10% or nearly,400,000 b/d."