US Energy Information Administration Forecasts Rise in World Oil Demand by 970,000 Barrels a Day in Second Half of 2008

Oil&Gas Materials 12 September 2008 16:14 (UTC +04:00)

Azerbaijan, Baku, 12 September/ Trend , A. Badalova/ Energy Information Administration of United States forecasts rise in the world oil demand by 970,000 barrels a day in the second half of 2008.

In the first half of 2008, rise in world oil demand comprised 370,000 barrels a day. A slow rise in demand in the first half is caused by a significant drop in US demand by 930,000 barrels a day. The total amount of world oil demand will make up 86.48mln barrel a day in 2008 which is 0.67mln barrels a day more than that of 2007, estimations say.

According to EIA forecast, world oil demand will go up by 920,000 barrels a day in 2009 to 87.4mln barrels a day.

The volume of oil demand in Organization for Economic Cooperation and Development (OECD) will make up 48.45mln barrels a day in 2008 which is 0.69mln barrels a day less than that of 2007. In 2009, oil consumption in these countries will drop by 0.41mln barrels to 48.04mln barrels a day.

In non-OECD states oil consumption will go up by 1.32mln barrels a day in 2009 to 39.36mln barrels against 38.04mln barrels in 2008.

Energy Information Administration of US is a statistical agency of US Department on energy founded by Congress in 1977.

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