BAKU, Azerbaijan, April 13. The US Energy Information Administration (EIA) forecasts Europe's oil demand to stand at 14.29 mb/d in 2023, Trend reports via EIA.
According to the report, the region's oil demand is expected to increase slightly from 14.27 mb/d in 2022.
In particular, the region's demand is expected at 14.01 mb/d in the 1Q2023, with further increase to 14.19 mb/d in 2Q2023, 14.6 mb/d in the 3Q2023, slightly declining to 14.3 mb/d in the 4Q2023.
At the same time, Europe's liquids demand in 2024 is also expected to stand at 14.29 mb/d.
Meanwhile, EIA forecasts Europe's oil and liquid fuels production at 4.3 mb/d in 2023, and 4.46 mb/d in 2024.
World oil demand is expected to increase to 100.87 mb/d in 2023, compared to 99.43 mb/d in 2022. The global liquid fuels consumption is expected to grow by 1.4 mb/d and by 1.8 mb/d in 2023 and 2024, respectively. The total world oil demand in 2024 is projected to stand at 102.72 mb/d.