US oil demand grows faster than China first time in 15 years - IEA

For the first time since 1999 oil demand in the US overtook that of China, the International Energy Agency (IEA) says. The US “shale revolution” has largely contributed, and analysts agree higher fuel consumption means the American economy is recovering. 

According the IEA US oil demand grew by 390,000 barrels a day, showing a 2 percent increase after years of decline. In contrast, Chinese demand growth was the weakest in 6 years having added only 295,000 barrels per day.

DYI Comments: A marginal improvement in the U.S. economy is at play here.  The Chinese demand for oil is the bigger story with the possibility of a sagging economy or the long awaited debt blow off.  Only time will tell.  I'll be watching closely.

DYI