Petroleum demand last month highest for January since 2008

The American Petroleum Association (API) recently reported petroleum, crude oil and gasoline deliveries were up for the first month of 2017.
“Total petroleum deliveries moved up by 1.2 percent from the prior year to nearly 19.3 million barrels per day in January 2017,” an API news release said.  
“2017 is off to a solid start," API Chief Economist Erica Bowman said. "Consumers continued to save at the pump as gasoline prices remained steadily low and the economy grew, expanding for the 92nd consecutive month.”
The gains added over 200,000 jobs to citizens, the news release said, noting the U.S. unemployment rate was little changed at 4.8 percent.
The only drop was in gasoline deliveries compared to last year. Compared to petroleum, these types of deliveries significantly decreased in number.
“Total motor gasoline deliveries, a measure of consumer gasoline demand, decreased 2.6 percent from January 2016, to average 8.4 million barrels per day – the lowest demand in 36 months,” the release said.  
Similar to petroleum, crude oil also increased from December to January but fell a little over 2 percent after the first month of 2017.
Also noted in the news release was the financial analysis of crude oil stocks. In January, crude oil resevres ended at 499.5 million barrels – the highest January inventory level in 87 years, since 1930.