Largest year over year drop in a while after hovering around flat year over year.
Might be why Saudis decided to cut prices recently.
I’m looking for consumption to increase as GDP stabilizes and then return to positive territory as global automatic stabilizers and proactive fiscal policies add net financial assets.
Crude Oil Rises After Unexpected Decline in U.S. Jobless Claims
by Mark Shenk
April 16 (Bloomberg) — Daily fuel demand averaged over the past four weeks was 18.7 million barrels, down 5.2 percent from a year earlier, according to the department.
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