Pictured above: the U.S. Strategic Petroleum Reserve
(Bloomberg) — Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.
The number, which includes crude oil and natural gas liquids, came in roughly 340,000 barrels higher than a previous estimate for the month of April.
U.S. diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the EIA also noted in its monthly report.
Distillate fuel oil demand was 3.88 million bpd in April, 4.7% higher than early estimates published by the agency in its Wednesday weekly report and 2.2% higher than April 2024. April was a volatile month for diesel futures after U.S. President Trump announced sweeping tariffs in early April, causing prices to tank.
Demand for gasoline, the most consumed fuel in the U.S., was in-line with weekly estimates published earlier this year.
Demand for jet fuel was revised down by 5% in the monthly EIA report to 1.76 million bpd from estimates of 1.86 millions bpd. Those same tariffs also clouded the outlook for air travel, with some Americans opting for road trips over flying as they tighten spending.
