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U.S. oil demand hits one-year low


The American Petroleum Institute said in its monthly report on May 20 that in April, U.S. oil demand was 19.3 million barrels per day, a decrease of 5.2% from the previous month and a record low in a year. In April, U.S. gasoline demand was 8.7 million barrels per day, a decrease of 0.1% from the previous month and a decrease of 0.8% from the same period last year; the demand for distillate oil was 3.9 million barrels per day, a decrease of 2.5% from the previous month and a decrease of 3.2% from the same period last year. . In April, U.S. crude oil production was 11.8 million bpd, up 1.4% from the previous month and 5.4% from a year earlier, but still down 1.1 million bpd from the record high output in November 2019, the report said. Oilfield services firm Baker Hughes Inc., an indicator of U.S. crude production, reported that the number of U.S. oil exploration wells in April rose 4% from the previous month to 549, compared with 821 in April 2019, the same period before the pandemic. Seats decreased by 33%. The report said that in April, U.S. net exports of crude oil and oil products increased to 1.4 million barrels per day from 500,000 barrels per day in the previous month, of which oil imports fell by 400,000 barrels per day and oil exports increased by 400,000 barrels per day. /day, mainly because after the outbreak of the Russian-Ukrainian war, the market avoided Russian crude oil, which made the impact of increased demand for US crude oil export. In April, U.S. refining output rose 3.4 percent to 16.2 million barrels per day, and refinery capacity utilization was 90.1 percent, the highest level since 2018.
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