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Global road fuel demand stable, supply decline expected - IEA

Economy Materials 11 August 2022 15:40 (UTC +04:00)
Global road fuel demand stable, supply decline expected - IEA
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, August 11. Global road fuel demand is holding up, although deliveries are expected to decrease in the second half of 2022, Trend reports with the reference to the latest oil market update from the International Energy Agency (IEA).

“May and June statistics have boosted our second quarter estimate of combined growth in gasoline and gasoil to 1.3 million barrels per day year-on-year. Excluding historical baseline revisions, global gasoline demand for the second quarter of 2022 has been revised 210,000 barrels per day higher, with gasoil 170,000 barrels per day above last month’s report,” the IEA said.

Namely, the demand for motor gasoline is expected at 25.9 million barrels per day in 2022, which is 328,000 barrels per day higher year-on-year, while demand for 2023 is forecast at 26.1 million barrels per day, the report said.

According to the outlook, the demand for diesel fuel in 2022 is expected at 28.07 million barrels per day - an increase of 437,000 barrels per day year-on-year. The demand growth for 2023 is quite flat - an increase of 21,000 barrels per day to 28.09 million barrels per day.

Meanwhile, world oil demand is expected at 99.7 million barrels per day in 2022, and 101.8 million barrels per day in 2023.

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