U.S. petroleum demand continued to march higher last week and production held steady, leaving crude stockpiles far below historic averages, the Energy Information Administration (EIA) said Wednesday.

Demand rose 4% week/week to average 22.7 million b/d during the week ended Feb. 11, according to the U.S. Energy Information Administration (EIA). The advance was aided by a 4% jump in jet fuel consumption, EIA’s latest Weekly Petroleum Status Report showed.

Travel fuel consumption – including demand for gasoline and diesel — is expected to accelerate further as spring weather arrives and the effects of the Omicron variant of the coronavirus ebb, Rystad Energy analysts said. This could play out domestically and globally, they said.

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