Evidence of a slowdown in the US economy is turning up in oil markets as demand stagnates in the world’s most voracious petroleum consuming nation.
US petroleum stockpiles are at their highest levels since the early 1980s, the energy department revealed this week, and the rapid rebound in demand from the recessionary lows of a year ago has begun to decelerate.
Americans are consuming less oil than they did in 2008 – or most of the previous decade, for that matter.
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