Demand for domestic oil rebounded last week, as gasoline and jet fuel use jumped, the U.S. Energy Information Administration (EIA) said in its latest Weekly Petroleum Status Report (WPSR).

OPEC oil export revenues

EIA said for the week ending Oct. 23 demand increased 8% week/week, recovering from a decline the previous week and extending a run of choppy results as fuel needs bounced around amid the uneven recovery from the demand shock imposed by the coronavirus.

Demand was 9% below the same week a year earlier, with jet fuel and gasoline needs still well off their pre-pandemic levels.

U.S. crude production remains volatile, as well. It increased 1.2 million b/d week/week after dropping by a similar level over the prior two weeks, EIA said.

For the latest covered week, excluding the Strategic...