Based on this- I expect oil prices to stabilize here, pending any major events
Liquid Fuels Consumption Total U.S. liquid fuels consumption rose by 470,000 bbl/d (2.5%) in 2013, the largest increase since 2004. Consumption of hydrocarbon gas liquids (HGL) registered the largest gain, increasing by 190,000 bbl/d (8.5%). In 2014, total liquid fuels consumption is expected to remain unchanged, with declines in the consumption of HGL, residual fuel oil, and other oils offsetting increases in distillate fuel and jet fuel. Total consumption is forecast to grow by 140,000 bbl/d in 2015, with HGL and distillate consumption accounting for most of the growth.
Motor gasoline consumption grew by 160,000 bbl/d (1.9%) in 2013, the largest increase since 2004. EIA expects gasoline consumption to remain mostly unchanged during the forecast period, as modest increases projected for 2014 are offset by small declines in 2015. This projection shows that continued improvements in new-vehicle fuel economy offset highway travel growth.
Distillate fuel consumption increases by 120,000 bbl/d (3.1%) in 2014, reflecting colder-than-average first-quarter weather and economic growth. Distillate consumption rises by an additional 90,000 bbl/d (2.2%) in 2015. Some of the growth in distillate fuel consumption in 2015 comes from Annex VI to the International Convention for the Prevention of Pollution from Ships (MARPOL Annex VI), which is an international agreement that generally requires the use of fuels below 1,000 parts per million sulfur by marine vessels in most U.S. waters, unless alternative devices, procedures, or compliance methods are used to achieve equivalent emissions reductions.
Residual fuel oil consumption, which falls to an estimated 240,000 bbl/d in 2014, is projected to decline further to 210,000 bbl/d in 2015, which would be the lowest level on record.
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