- The government also reported that U.S. oil production rose to 7.326 million barrels per day, its highest level since March, 1992.
- demand is down 1.7 percent from the same period a year ago
- Drop in demand has to do with consumers buying more fuel efficient cars, but there is also a correlation between high gasoline prices and a drop in driving. Thus lowering the price of gas because there’s a lower demand for it and there’s more supply of it.
Categories: Capital Markets