As we all know, countries which tend to buy bitumen from Africa must be aware of the global economy and US decisions,
since the United States is a dominant power in the world, that affects the global demand, oil and bitumen market. Therefore, we have decided to go a little further,
that is to say, we tend to discuss the United States’ decisions, conditions, in order to
get information about the future probable situation of other countries.
Demand for gasoline in the United States fell 1.9 percent in the last week of August and
will decline further in the coming months as the summer holidays,
which are usually the peak of demand in the United States.
According to Oil Price, the demand for gasoline in the United States slowed down in
August and even dropped to zero in the last week of this month with the end of the holiday season and the beginning of schools. This simply changed the decisions of those
countries which intended to buy bitumen from Africa. Respectively, new data from IHS Market shows that
gasoline demand fell 1.9 percent in the last week of August. According to the company, the average demand for gasoline
in August was 18.2% lower than last year.
buy bitumen from Africa
Moreover, declining demand for gasoline in
August followed a four-month rise in demand following the lifting of shutdowns caused by the Coronavirus in May. Gasoline sales in the United States fell 50
percent year on year a month before the lift of restrictions.”The decline in demand for gasoline
is a sign of the intensification of the Coronavirus epidemic and
suggests that it will take longer to return to normal before the Corona crisis,” said Daniel Yergin, president of IHS Market Investments.
Needless to mention that gasoline demand in the United States will decline further in the coming months
with the end of the summer vacation, which is usually the peak of demand in this country. This means that we will see an increase in gasoline reserves in the weekly
reports of the US Energy Information Administration.
buy bitumen from Africa
The agency’s latest weekly report shows that US gasoline inventories fell by 3 million barrels in the week ending September 1. These reserves had decreased by 4.3 million barrels per day in the previous week. Of course, this drop in resources could be due to Hurricane Laura,
which shut down refineries across the Gulf Coast. As the final point, average US gasoline production fell last week to 8.9 million barrels per day, down from 9.5
million barrels per day the previous week.