Baku, Azerbaijan, Jan. 11
By Elena Kosolapova – Trend:
Global consumption of oil and other liquids will increase to 97.2 million barrels per day in 2017 and to 98.71 million barrels per day in 2018, said the US Energy Information Administration’s (EIA) January 2017 Short-Term Energy Outlook (STEO).
In its December STEO the EIA forecast global consumption of oil and other liquids at 96.99 million barrels per day in 2017. Forecast for 2018 is published for the first time.
Global consumption of oil and other liquid hydrocarbons was 94.04 million barrels per day in 2015 and 95.57 barrels per day in 2016, according to the EIA.
Consumption growth in 2016 was driven by non-OECD countries, according to EIA. As much as 1.2 million barrels per day of the growth in both 2017 and 2018 are also forecast to come from rising non-OECD consumption.
The EIA said China and India are expected to be the largest contributors to non-OECD petroleum consumption growth. China’s consumption growth is forecast to average 0.3 million barrels per day in both 2017 and 2018. In India the consumption growth is forecast to average 0.2 million barrels per day in both 2017 and 2018.
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