Liquid hydrocarbons’ consumption forecast for 2011

Azerbaijan, Baku, Dec. 30 / Trend A. Badalova /

Global consumption of liquid hydrocarbons in 2011 will increase by 1.43 million barrels, reaching up to 87.78 million barrels per day (bpd), predicted the U.S. State Energy Information Administration (EIA).

According to EIA, the consumption of liquid hydrocarbon hit 86.35 million bpd during 2010.

Roughly 45.67 million bpd of the total liquid hydrocarbons to be consumed in 2011 will fall to the share of Organization for Economic Cooperation and Development (OECD) countries, compared to 45.7 million bpd in 2010. However, 42.11 million bpd will fall to the share of countries which are not OECD members, compared to 40.65 million in 2010.

According to EIA, during 2011, the highest level of liquid hydrocarbons consumption among Asian countries will be observed in China, with 9.58 million bpd compared to 9.05 million bpd in 2010. Japan will consume 4.15 million bpd, while India's consumption is expected to be 3.33 million bpd. Total consumption in Asia and Oceania will be 27.07 million bpd next year, compared to 26.4 million bpd in 2010.

According to the forecasts, the North American countries will consume 23.67 million bpd in 2011, of which 2.26 million bpd will be consumed by Canada, 2.16 million bpd by Mexico and 19.24 million bpd by the United States.

Consumption of liquid hydrocarbons in Europe during 2011 will amount to 15.01 million bpd, while the countries of the former USSR are expected to consume 4.52 million bpd compared to 15.16 million and 4.39 million bpd in 2010, respectively.

Forecasts on liquid hydrocarbons consumption for 2010-2011 (million bpd)