Diesel power

摘要

US oil demand has climbed to its highest in 18 months after a surge in middle distillate sales.Product deliveries were 19.6mn b/d in May, according to EIA weekly data, putting year-on-year growth at 8pc. The size of the increase is unsurprising. This time last year, US demand was at its lowest since 1997, after plunging by 2mn b/d from pre-recession levels. But last month's increase is significant, because there are clear signs that diesel demand is finally recovering from almost two years of decline.