U.S. Oil Consumption Climbs 3.5% in 1984
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NEW YORK — Domestic oil consumption increased 3.5% in 1984, the first rise since 1978 and the sharpest growth in seven years, the American Petroleum Institute reported Wednesday.
The increase failed to keep up with the economy’s strong growth last year, however, and still left demand for oil in the United States 16% below peak levels.
“Oil prices weakened in a year in which U.S. oil demand increased rather respectably,” said John Lichtblau, executive director of the Petroleum Industry Research Foundation, a study group in New York supported by the oil industry.
He said that, while the growth in U.S. oil consumption was impressive, demand was sluggish elsewhere in the world.
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