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Economic troubles show in oil demand statistics

GasBuddy Blog -- So how much impact did the recession make on oil demand? Looking at the figures, the recession that began in late 2008 easily dwarfed the economic slowdown after September 11, 2001. In fact, I had to go back to 1999 to find the last month that saw lower demand numbers than what we saw at the start of the 2008 recession, and demand still has not recovered.

September 2008 is when banks went into crisis, Wall Street panicked, and the recession really began. Oil demand (and thus supply) plummeted in September 2008, dropping to 535.16 million barrels, a number not seen since February 1999. It's important to note that February is routinely a month of poor demand, so if we exclude that month, one must go back to July 1995 to see a comparable...

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Submitted Mar 11, 2010 By: PD

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minnesotagirl Champion Author Milwaukee Posts:1,187 Points:290,065 Joined:Oct 2009	Message Posted: Mar 12, 2010 6:46:27 AM Ignore minnesotagirl Report Abuse I am tired of paying so much for gasoline.
tco0102 Champion Author Charleston Posts:3,728 Points:967,675 Joined:May 2007	Message Posted: Mar 12, 2010 6:45:30 AM Ignore tco0102 Report Abuse I hope some of the lower demand is related to conserving.
cheapertvs Champion Author Richmond Posts:5,205 Points:1,769,195 Joined:Jan 2004	Message Posted: Mar 12, 2010 6:43:23 AM Ignore cheapertvs Report Abuse As our use declines, the demands from Asia and the developing World shot up. We will now be paying more for far less. We need to move to natural gas as our primary fuel quickly to avoid these price gyrations.
greywolves Champion Author Las Vegas Posts:4,116 Points:1,529,945 Joined:Dec 2004	Message Posted: Mar 12, 2010 6:40:22 AM Ignore greywolves Report Abuse the largest change in consumer demand in the last 10 years is military use.
fordfan1 Champion Author Indiana Posts:4,204 Points:918,115 Joined:Jul 2007	Message Posted: Mar 12, 2010 6:39:15 AM Ignore fordfan1 Report Abuse If this is true why are we paying $2.75 a gallon here in Fort Wayne? There is no supply and demand anymore when dealing with oil only GREED!
ftsgt Champion Author Illinois Posts:8,428 Points:1,669,835 Joined:Dec 2004	Message Posted: Mar 12, 2010 6:38:14 AM Ignore ftsgt Report Abuse it shown for awhile
JCUBE Champion Author Michigan Posts:3,571 Points:952,050 Joined:Aug 2003	Message Posted: Mar 12, 2010 6:31:17 AM Ignore JCUBE Report Abuse You haven't looked at the price spike to 2.79/gal here...Those greedy bassturds at Speedway started it all over again, it's time to BOYCOTT those good for nothing crooks.
lindact Champion Author New Haven Posts:4,029 Points:791,090 Joined:May 2008	Message Posted: Mar 12, 2010 6:31:05 AM Ignore lindact Report Abuse More example that it is out of our control.
Terrapinone Champion Author Baltimore Posts:2,767 Points:1,142,840 Joined:May 2004	Message Posted: Mar 12, 2010 6:28:29 AM Ignore Terrapinone Report Abuse It's a topsy turvy world.
curlypooh Champion Author New Jersey Posts:4,959 Points:1,038,140 Joined:Apr 2007	Message Posted: Mar 12, 2010 6:27:59 AM Ignore curlypooh Report Abuse Last article said we were recovering, guess someone looked out the window!
turbodog Champion Author Mississippi Posts:1,833 Points:393,100 Joined:Feb 2009	Message Posted: Mar 12, 2010 6:26:33 AM Ignore turbodog Report Abuse If the market is accurate, we should see a drop in prices.
gabbygusIN Champion Author Indiana Posts:2,385 Points:599,050 Joined:Oct 2008	Message Posted: Mar 12, 2010 6:26:14 AM Ignore gabbygusIN Report Abuse Very well said tomok! I totally agree!
Beboper Champion Author Virginia Posts:3,782 Points:1,188,360 Joined:Oct 2005	Message Posted: Mar 12, 2010 6:25:13 AM Ignore Beboper Report Abuse greed that is all you can say
Redink Champion Author Indianapolis Posts:2,453 Points:468,695 Joined:Aug 2005	Message Posted: Mar 12, 2010 6:24:10 AM Ignore Redink Report Abuse It's not was is, it's what the specualators think it will be.
rogerparry Champion Author Florida Posts:4,629 Points:942,480 Joined:Jan 2008	Message Posted: Mar 12, 2010 6:23:02 AM Ignore rogerparry Report Abuse Demand is very low and yet prices are up.
GasholeMI Champion Author Lansing Posts:5,309 Points:764,790 Joined:Jul 2008	Message Posted: Mar 12, 2010 6:21:13 AM Ignore GasholeMI Report Abuse I agree with Ringmaster2008. Keep demand low. Conserve.
VetteFan Champion Author Indiana Posts:4,881 Points:1,068,395 Joined:Aug 2005	Message Posted: Mar 12, 2010 6:19:56 AM Ignore VetteFan Report Abuse Our only weapon is demand. Conserve where possible.
fillerupyeoww All-Star Author Columbus Posts:971 Points:677,455 Joined:Mar 2008	Message Posted: Mar 12, 2010 6:19:18 AM Ignore fillerupyeoww Report Abuse It's all about perspective.
Ringmaster2008 Champion Author Ontario Posts:2,957 Points:504,610 Joined:Apr 2008	Message Posted: Mar 12, 2010 6:18:21 AM Ignore Ringmaster2008 Report Abuse Keep conserving and keeep demand low
naw62 Champion Author Maine Posts:4,570 Points:1,250,745 Joined:Sep 2006	Message Posted: Mar 12, 2010 6:15:52 AM Ignore naw62 Report Abuse It is not all oil what about producers and big oil
RoadhogMA Champion Author Boston Posts:2,099 Points:478,575 Joined:Dec 2008	Message Posted: Mar 12, 2010 6:15:24 AM Ignore RoadhogMA Report Abuse A lot of Spin .
gmcgas Sophomore Author Atlanta Posts:155 Points:865,625 Joined:Mar 2004	Message Posted: Mar 12, 2010 6:15:09 AM Ignore gmcgas Report Abuse yeah we're in recovery, unemployement just got a new all time high.
dar 1 Champion Author Michigan Posts:1,100 Points:213,050 Joined:Jan 2005	Message Posted: Mar 12, 2010 6:14:13 AM Ignore dar 1 Report Abuse We are in a recovery so they can charge more.LOL
ttwiw Champion Author Austin Posts:2,001 Points:920,110 Joined:Sep 2005	Message Posted: Mar 12, 2010 6:13:54 AM Ignore ttwiw Report Abuse This is why refineries are only running at 70-ish% capacity, are being sold, or are being shut down.
AvantiMick Champion Author Indiana Posts:8,036 Points:1,605,370 Joined:Dec 2005	Message Posted: Mar 12, 2010 6:10:02 AM Ignore AvantiMick Report Abuse Yep, "tomok" said it the best!
Metroman Champion Author Philadelphia Posts:8,202 Points:1,647,470 Joined:Aug 2003	Message Posted: Mar 12, 2010 6:09:25 AM Ignore Metroman Report Abuse Now wait the article just above said we were in recovery? Do you think this is just the oil industry giving a line of bull.
animal63 All-Star Author Indiana Posts:502 Points:356,715 Joined:Oct 2008	Message Posted: Mar 12, 2010 6:08:26 AM Ignore animal63 Report Abuse just tells you how much we are getting shafted by the oil companies and opec.
BobD2009 Champion Author Long Island Posts:1,932 Points:268,560 Joined:Apr 2009	Message Posted: Mar 12, 2010 6:08:03 AM Ignore BobD2009 Report Abuse People are conserving. I know I use less and know many people who claim they can't afford more.
LeeFree Champion Author Pittsburgh Posts:4,410 Points:1,297,575 Joined:Jun 2005	Message Posted: Mar 12, 2010 6:07:04 AM Ignore LeeFree Report Abuse Less demand but also less supply. Production is reduced to keep prices high and there's nothing we can do about it except to keep using less.
cathevan Champion Author Manitoba Posts:2,133 Points:524,025 Joined:May 2007	Message Posted: Mar 12, 2010 5:59:58 AM Ignore cathevan Report Abuse just shows that we don't need as much as we usually use [Edited by: cathevan at 3/12/2010 6:00:53 AM EST]
bicycler Champion Author Ontario Posts:9,744 Points:1,707,660 Joined:May 2005	Message Posted: Mar 12, 2010 5:58:04 AM Ignore bicycler Report Abuse tomok;You have hit the core of our consumers problem!
Hunter724 Champion Author New Hampshire Posts:3,225 Points:673,145 Joined:Sep 2008	Message Posted: Mar 12, 2010 5:55:26 AM Ignore Hunter724 Report Abuse Agree with tomok!!!!!!!!
tomok Champion Author Portland Posts:18,348 Points:1,371,035 Joined:Aug 2006	Message Posted: Mar 12, 2010 5:52:52 AM Ignore tomok Report Abuse It does not help when big oil and the refiners create false shortages by producing less fuel and raising fuel prices at the pump. OPEC, big oil, refiners and those speculators will continue to ‘stick it’ to the consumer somehow, someway and Economic troubles show in oil demand statisticssss. No job, No money, No buy, No fuel, No drive. No Dems, No universal health care bull, No higher taxes. cheapmonkee make bio diesel from WVO, NOT ethanol.
FMREALTOR Champion Author Florida Posts:1,672 Points:763,595 Joined:Jan 2007	Message Posted: Mar 12, 2010 5:47:46 AM Ignore FMREALTOR Report Abuse Oil demand will not increase until we put the 10+% unemployed back to work.
afghaned Champion Author Hamilton Posts:4,401 Points:314,575 Joined:May 2004	Message Posted: Mar 12, 2010 5:44:47 AM Ignore afghaned Report Abuse Yet thepri s continue to rise on SPECULATION & DISASTERS.
pgerassi Champion Author Milwaukee Posts:5,969 Points:1,171,220 Joined:Apr 2007	Message Posted: Mar 12, 2010 5:44:46 AM Ignore pgerassi Report Abuse PHEVs will cut that down quite a bit in the coming years.
clement007 Champion Author Cleveland Posts:2,146 Points:881,275 Joined:Apr 2005	Message Posted: Mar 12, 2010 5:43:28 AM Ignore clement007 Report Abuse SO!
gass12 Champion Author Omaha Posts:3,636 Points:1,344,490 Joined:Oct 2005	Message Posted: Mar 12, 2010 5:38:30 AM Ignore gass12 Report Abuse The USA demands go down and China goes up. So what difference does it make unless all the countries get on board.
Bpers2001 All-Star Author Seattle Posts:735 Points:104,070 Joined:Nov 2009	Message Posted: Mar 12, 2010 5:36:46 AM Ignore Bpers2001 Report Abuse If demand is down, they'll simply withhold the supply, to keep the prices high.
skippypa Champion Author Hawaii Posts:3,534 Points:767,065 Joined:Jun 2008	Message Posted: Mar 12, 2010 5:36:12 AM Ignore skippypa Report Abuse Why are we conserving and the prices keep going up........burn the speculators.
Metro Man Champion Author Flint Posts:1,991 Points:1,048,725 Joined:Sep 2003	Message Posted: Mar 12, 2010 5:33:06 AM Ignore Metro Man Report Abuse You would think with demand down, the price would drop to invite you to purchase more.
Tru2psu2 Champion Author Winston-Salem Posts:6,784 Points:632,055 Joined:Feb 2004	Message Posted: Mar 12, 2010 5:30:17 AM Ignore Tru2psu2 Report Abuse All of the 'conserving' really didn't do anything!
BM4225 Champion Author Atlanta Posts:5,489 Points:1,180,095 Joined:Aug 2006	Message Posted: Mar 12, 2010 5:30:10 AM Ignore BM4225 Report Abuse So if things were so bad in 2008, why did prices hit $4 a gallon?
silverfox63 Champion Author Michigan Posts:3,364 Points:672,670 Joined:Oct 2008	Message Posted: Mar 12, 2010 5:26:01 AM Ignore silverfox63 Report Abuse Our woes in this area will continue unless there is some real change in the future, meaning jobs. [Edited by: silverfox63 at 3/12/2010 5:26:21 AM EST]
HA4CNN Champion Author Toronto Posts:1,001 Points:598,290 Joined:Dec 2006	Message Posted: Mar 12, 2010 5:17:42 AM Ignore HA4CNN Report Abuse Then there is the China and India factor and after that a lot of hope.
stpetebp Champion Author Tampa Posts:2,947 Points:846,840 Joined:Nov 2007	Message Posted: Mar 12, 2010 5:17:27 AM Ignore stpetebp Report Abuse All Greed!
ChuckGVT Champion Author Vermont Posts:2,121 Points:736,420 Joined:Apr 2008	Message Posted: Mar 12, 2010 5:14:21 AM Ignore ChuckGVT Report Abuse Yup, just greed.
harleydoctor Champion Author Kansas Posts:2,500 Points:967,905 Joined:Sep 2005	Message Posted: Mar 12, 2010 5:12:30 AM Ignore harleydoctor Report Abuse Just what the hell is going on???????????
fratt Champion Author Grand Rapids Posts:4,959 Points:1,673,155 Joined:Jul 2005	Message Posted: Mar 12, 2010 5:06:52 AM Ignore fratt Report Abuse Demand down, Prices up = GREED!!!
jimmy123NE Champion Author Omaha Posts:1,753 Points:555,690 Joined:Jul 2008	Message Posted: Mar 12, 2010 5:03:47 AM Ignore jimmy123NE Report Abuse Something is fishy about this.
BigDogOH Champion Author Cincinnati Posts:3,557 Points:834,340 Joined:Mar 2008	Message Posted: Mar 12, 2010 4:54:24 AM Ignore BigDogOH Report Abuse Suplus up,Demand down. Why is price going up????????/