U.S. Sept oil demand estimate cut 2.7 pct

WASHINGTON (Reuters) – U.S. oil demand in September
was 2.74 percent less than previously estimated, the government
said on Monday, dampening the outlook for a strong recovery in
petroleum consumption.

September U.S. petroleum consumption was lowered 518,000
barrels per day to 18.362 million bpd, the Energy Information
Administration said in its monthly petroleum supply report.

Oil traders have been looking for any signs of
strengthening oil demand in the United States, the world’s
largest petroleum consumer.

Over the past year a global recession has cut oil
consumption around the world, but expectations of an economic
rebound pushed oil prices to levels around $80 a barrel over
the past few months.

Reuters