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89 comments on Oilwatch Monthly July 2009

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erichacker on July 14, 2009 - 8:46am Permalink | Subthread | Parent | Comments top

What I find interesting is that in the US, the number of jobs is back down to 1999 levels. I would imagine this is similar in other OECD countries from what I have heard generally. Yet oil consumption does not appear to have dropped off nearly as much at 2004 levels.

I wish I had time to dig into this in more detail, maybe I'm missing something.

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The Dude on July 14, 2009 - 11:13am Permalink | Subthread | Parent | Comments top

Gasoline demand hasn't budged much, people still need to drive, possibly more than ever, as they tool around looking for work; the same not being true of more discretionary air travel = jet fuel; with the economy in the shape it is consumption of distillates is down and we have a record build in stocks. Thus it isn't surprising to see gasoline consumption holding steady.

This is a chart of gasoline/jet fuel/distillate consumption YOY:

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89 comments on Oilwatch Monthly July 2009

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