Total US petroleum deliveries, a measure of demand, increased 4.2% from June 2014 to average 19.6 million b/d last month. In the second quarter, demand gained 3.7% compared with the same period last year. “Demand for and production of oil and refined products grew almost across the board over the last year,” said API Chief Economist John Felmy. “Notably, gasoline demand last month reached the highest level since the summer of 2007.” Gasoline demand in June averaged more than 9.3 million b/d, up 3.5% from June 2014 and the highest for any month since August 2007. Deliveries of gasoline in the second quarter increased 2.6% compared with last year. Distillate deliveries were up 1.3% from the prior year to average 3.9 million b/d. Over the same period, demand rose for jet fuel (0.6%), residual fuel (3.1%), and “other oils” (8.9%). At nearly 9.8 million b/d, US crude oil production […]