Although projections continue to abound about peak oil demand, the data continue to suggest otherwise. Last week the American Petroleum Institute (API) reported that total U.S. petroleum deliveries in April averaged 19.6 million barrels per day (BPD). After a period of decline that began in 2008 -- in the face of the housing crisis and $100/bbl oil -- U.S. petroleum demand has now risen every year since 2012. In 2014 throughout rose above 16 million BPD for the first time, and this year the weekly average has breached 17 million BPD for the first time (on several occasions). Exports of finished products like distillate and gasoline have tripled in the past decade to reach more than three million BPD.

Source: Forbes May 22, 2017 18:22 UTC