“Revised U.S. crude demand for March averaged 18.2 million barrels per day (mb/d), a decline of 5.6 percent from 2011.
Consumption was lower across all of the main product categories, the International Energy Agency reported this morning.
“Despite the optimism that had crept into the US economic news feed during late‐2011/early‐2012, cracks have started to appear, undermining the short‐term demand prognosis,” the agency reported, citing the recent, crummy GDP, non-farm payrolls, Philly Fed, and ISM data.”
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