US Oil Consumption

It’s been a while since we’ve checked in on US oil consumption.  The above graph shows the EIA’s data since 2000 – both the weekly and the monthly series.  The monthly series is believed to be more accurate, but the weekly series is more up to date – going through the week before last, versus August for the monthly series.

In any cases, both series tell more-or-less the same story: after growing in the recovery following the great recession, US consumption is generally declining in 2011 in the face of a weak economy and fairly high oil prices.

Early Warning