EIA Says U.S. Oil Consumption in 2012 Lowest in 16 Years

Reuters reported that the United States’ oil consumption dropped unexpectedly in December, which pulled down the total annual demand last year at lowest level since 1996, according to the Energy Information Administration.

As quoted in the market news:

The Energy Information Administration said in its monthly petroleum supply report that oil demand in the world’s top consumer dipped to 18.13 million barrels per day in December, down 4.4 percent or 835,000 bpd from a projection last week.

Click here to read the full Reuters report.