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<blockquote data-quote="Campground Cattle" data-source="post: 82862" data-attributes="member: 195"><p>Here is the latest stuff I have seen on consumption</p><p></p><p>Consumption </p><p>The United States consumed an average of about 20.4 million bbl/d of oil during the first ten months of 2004, up from 20.0 million bbl/d in 2003. Of this, motor gasoline consumption was 9.0 million bbl/d (or 44% of the total), distillate fuel oil consumption was 4.1 million bbl/d (20%), jet fuel consumption was 1.6 million bbl/d (8%), and residual fuel oil consumption was 0.8 million bbl/d (4%)l. Total 2005 petroleum demand is projected to grow by just 1.4% (280,000 bbl/d), to an average 20.7 million bbl/d, in response to the combined effects of somewhat slower economic growth and relatively high crude oil and product prices. All the major products (except residual fuel oil) are expected to contribute to this growth. Motor gasoline demand is projected to increase 1.8%, to 9.22 million bbl/d. Jet fuel demand is projected to post a growth rate of 3.1% in 2005 to average 1.67 million barrels per day, still below 2000 jet fuel consumption but sharply up from post-9/11 lows it reached in 2002 and 2003. Distillate demand in 2005 is projected to grow only 1.5% year-over-year as industrial growth slows. Demand for residual fuel oil is projected to remain about flat in 2005. </p><p></p><p>Checking my facts we have a total 15 million barrels a day refining capacity not 12 I stand corrected .</p></blockquote><p></p>
[QUOTE="Campground Cattle, post: 82862, member: 195"] Here is the latest stuff I have seen on consumption Consumption The United States consumed an average of about 20.4 million bbl/d of oil during the first ten months of 2004, up from 20.0 million bbl/d in 2003. Of this, motor gasoline consumption was 9.0 million bbl/d (or 44% of the total), distillate fuel oil consumption was 4.1 million bbl/d (20%), jet fuel consumption was 1.6 million bbl/d (8%), and residual fuel oil consumption was 0.8 million bbl/d (4%)l. Total 2005 petroleum demand is projected to grow by just 1.4% (280,000 bbl/d), to an average 20.7 million bbl/d, in response to the combined effects of somewhat slower economic growth and relatively high crude oil and product prices. All the major products (except residual fuel oil) are expected to contribute to this growth. Motor gasoline demand is projected to increase 1.8%, to 9.22 million bbl/d. Jet fuel demand is projected to post a growth rate of 3.1% in 2005 to average 1.67 million barrels per day, still below 2000 jet fuel consumption but sharply up from post-9/11 lows it reached in 2002 and 2003. Distillate demand in 2005 is projected to grow only 1.5% year-over-year as industrial growth slows. Demand for residual fuel oil is projected to remain about flat in 2005. Checking my facts we have a total 15 million barrels a day refining capacity not 12 I stand corrected . [/QUOTE]
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