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US downs forecast for global oil consumption

Oil&Gas Materials 14 October 2016 10:56 (UTC +04:00)
Global consumption of oil and other liquid hydrocarbons will increase up to 95.33 million barrels per day in 2016 and 96.67 million barrels per day in 2017

Baku, Azerbaijan, Oct. 14
By Elena Kosolapova – Trend:
Global consumption of oil and other liquid hydrocarbons will increase up to 95.33 million barrels per day in 2016 and 96.67 million barrels per day in 2017, said the US Energy Information Administration’s (EIA) Oct. 2016 Short-Term Energy Outlook (STEO).

In its Sept. STEO the EIA forecast global consumption of oil and other liquid hydrocarbons at 95.36 million barrels and 96.78 million barrels per day in 2016 and 2017, respectively.
Global consumption of oil and other liquid hydrocarbons was at 94.04 million barrels per day in 2015, according to the EIA.

During the first quarter of 2016, global consumption of oil and other liquid hydrocarbons hit 94.17 million barrels per day, followed by 95.28 million barrels per day in the second quarter and 95.93 million barrels per day, according to the EIA. The global consumption is expected at 95.92 million barrels per day in the fourth quarter.

Quarterly output of oil and other liquid hydrocarbons is expected at 95.5 million barrels, 96.27 million barrels, 97.52 million barrels and 97.39 million barrels per day, respectively, in 2017.

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