July 30, 2012 / 3:57 PM / 7 years ago

UPDATE 2-US oil demand up in May, first rise in 14 months

* U.S. oil demand up 142,000 bpd from previous estimate
    * US gasoline demand up for second consecutive month
    * API reported a smaller increase in May oil demand

 (Recasts with historical context, additional data from report)
    WASHINGTON, July 30 (Reuters) - U.S. oil demand was stronger
than expected in May as consumption rose from a year ago for the
first time in 14 months, the U.S. government said on Monday.
    The Energy Information Administration said in its Petroleum
Supply Monthly report that oil demand for the world's top consumer
climbed to 18.707 million barrels per day in May, which was
142,000 bpd more than previously estimated.
    The upward revision placed demand up 344,000 bpd, or 1.87
percent from the 18.363 million bpd posted for the month last
year. The EIA had initially forecast a 1.10 percent increase
year-on-year.
    The EIA's oil demand figure for May was higher than the 18.457
million bpd reported by the American Petroleum Institute for the
month. While both EIA and API reported an increase in oil demand,
API said demand rose only 0.5 percent.
    After more than a year of declines, U.S. gasoline use rose in
May for the second consecutive month, up 2.41 percent from a year
ago.
    EIA said demand for distillate fuels also climbed 2.41 percent
from a year ago to 3.745 million bpd, while jet fuel fell 1.4
percent to 1.409 million bpd. 
 
                      E IA Monthly Demand Data 
                 (In millions of barrels per day) 
                         Prev    ~~~~~~~~~~Change vs~~~~~~~~ 
                          Est    
 Product     May        For May Prev Est   Yr Ago    Yr ago ( pct ) 
                                   (pct)              
 Gasoline    8.996      8.802      2.20      8.784       2.41 
 Distillate 3.745      3.656      2.43      3.657       2.41 
 Jet Fuel    1.409      1.405      0.28      1.429       -1.40 
 Residual    0.294      0.362     -18.78     0.478       -38.49 
 Total      18.707     18.565     0.76      18.363      1.87 
 
 *This chart compares the latest monthly EIA petroleum supply
report with the previous weekly report and final year ago numbers.
The EIA's monthly report always differs from the weekly report as
the monthly reflects data supplied from all U.S. energy companies,
while the weekly report surveys the biggest companies representing
about 90 percent of the market. The total demand number reflects
many petroleum products beyond gasoline, distillate, jet fuel and
residual fuel listed in the table. 
    
 NOTE-U.S. year-on-year oil demand changes: 

 April 2012 -1.77 pct 
 March 2012 -5.58 pct 
 Feb 2012 -0.72 pct 
 Jan 2012 -4.46 pct 
 Dec 2011 -4.99 pct 
 Nov 2011 -1.28 pct 
 Oct 2011 -2.2 pct 
 Sept 2011 -3.31 pct 
 Aug 2011  -2.59 pct 
 July 2011 -4.0 pct 

 (Reporting by Ayesha Rascoe; Editing by Marguerita Choy)
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