American Petroleum Institute: U.S. Crude Oil Demand Lowest in 4 Years

Reuters reported that according to the American Petroleum Institute, U.S. crude oil demand dropped to its lowest in almost four years in July primarily due to gasoline use.

As quoted in the market news:

At the height of summer driving season, petroleum demand dropped 2.7 percent from a year earlier to 18.062 million barrels per day. It was the smallest amount of U.S. oil consumption for any month since September 2008.

Click here to read the full Reuters report.