America’s “Soaring” Gasoline And Oil Demand Was Just An Illusion: How The EIA Fooled The Algos
by Tyler Durden
ZeroHedge.com
Jul 3, 2016
“Could it be that the U.S. demand that’s helped drive a near doubling of oil prices since mid-February was illusory?” That may be a reasonable conclusion to draw from the latest data published by the DOE. When looking at weekly figures, it looks like U.S. gasoline demand is soaring. But the latest monthly data, showing the numbers for April, paint a very different picture. They show U.S. gasoline consumption falling between March and April. “The discrepancy between the two sets of data that gives cause for concern.”
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